Can STI hold above 2900?

Today it has climbed above 2900 before noon, can we see it hold these gains?

Let’s start the year off with a look at the STI!

Can STI hold above 2900?

We are still reacting to the 2900 level, yesterday our quarterly GDP gave a surprise increase so our market rallied, but still stayed under the 2900 level.

As I post this, we are making a strong move above 2900.

Let’s see STI hold above 2900 by the close.

Meanwhile, let’s take a look at our counters and see if they offer some clues about the underlying strength of the market.

Can STI hold above 2900?

GLP – still hovering

GLP is still hovering inside the range.

It appear quite strong to hold this area, in comparison with what the STI has been doing.

Patience, follow system.

GLP still in the range.

OCBC – looking interesting

As mentioned in previous post, here, we could launch up another leg from this $8.88 level.

So happens to follow the STI fairly closely because it is a component after all.

Watch for next fresh signal.

Huat ah!

Is OCBC ready to launch from $8.88?

Sembcorp Ind – patience

Needs some patience on this one, it is holding this area still. Follow system.

Still hovering up here.

ThaiBev – pay attention

While ThaiBev still looks like it will head lower, if STI holds above 2900 this week, I would consider reducing size on this short.

It still looks bearish but be mindful of what the market is doing. We may not need this hedge anymore now.

Venture – is this the move we have been waiting for?

Breaking $10 as of this post, expecting a good move if we really clear that $10.20 level.

Genting

Looks to be getting interesting again.

Watching if we get a new round of buy signals off this $0.88 area, previous highs here too.

(what’s with this Singaporean obsession with the number 8? Do you see other markets reacting to $8.88 also? )

Is $0.88 going to hold Genting up?

As you can see, the markets seem to be getting ready for some action in 2017, don’t be too eager to jump in.

Do your own homework, follow the system.

One more big holiday coming up in a month, lots more feasting to do! =)

Good trading folks!

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