Earnings season is mostly over and there were not a lot of surprises.

15 of the STI component stocks reported better profits and 15 of the STI component stocks profits are lower than previous quarter. This indicating some slowing in the economy is occurring.

Companys that reported lower net profits:

Ascendas Reits, CapitaLand, Genting Sing, GLP, GAR, HPT, Jardine C&C, OLAM, NOBLE, ST Eng, SPH, SIA Eng, Sembcorp Industries, Sembcorp Marine & Starhub,

Companys that reported higher net profits:

CapitaMall Trust, CDL, Comfortdelgo, DBS, HK LAND, JMH USD, JSH USD, Keppel Corp, OCBC, SGX, SIA, Singtel, ThaiBev, UOB & Wilmar.

Let’s look at the charts…..

STI Open: 3,463.9

STI High: 3,473.49

STI Low: 3,434.70

STI Close: 3,463.10

Price Change: +11.10

Percentage Change: +0.32%

Total Volume: 0.99 Billion

Nothing has changed much since last week.

STI continuing to hold above the weekly support area but cannot seem to get any upside follow thru. MACD histogram is still ticking down.

As mentioned previously, a breakdown of the 3,450 level will be critical.

Watch 3,450 support and 3,470 – 3,475 resistance.

We are beginning to move into the months that tend to be the weakest seasonality months. May and June tend to be the weakest months of the year as an average.

Let me re-read this verse to you: protect long positions with hard stops!

Best Wishes,

Divergence Trader

The post A Quiet Week – Weekly Review Review For 18th May 2015 appeared first on Divergence Trader.