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Friday, April 28, 2017

War Scare On Korean Peninisula

All the talks and tension about possible war breaking out in Korea but the KOSPI continue to break new high breaking out of its 6 years trading range this week above 2,200 level for the first time since 2011. Certainly the price action is Kospi doesn't suggest that war is imminent. Having said that, Trump decision to end "Strategic Patience" with North Korea shows his resolve to seek a decisive resolution to this threat. Gold remains good hedge for investors who are overweight in equities.

Wednesday, April 26, 2017

Nasdaq (Monthly Chart) - Approaching Multi Year Chart Point at 6150.

Nasdaq could hit a important inflexion point tonight when Trump announce his Reform Tax plan, At this chart point, history suggest the market could correct 20%.

Tuesday, April 25, 2017

Market Volatility will be Back after Trump's Reform Tax Announcement on Wednesday

Market rally on French Election news and expectation of Trump`s reform tax announcement on Wednesday.  The market  will be strong until Trump`s reform tax announcement which is largely priced in. After Wednesday the market will start to focus on the tension in Korean Penisula and the possibility of US federal government spending shout down if congress don`t pass the spending bill  by 28 April midnight . If Trump insist on building the Mexico Wall , the risk of shut down will heightened. Enjoy the rally until Wednesday , volatility will be back on this weekend.

Thursday, April 20, 2017


A month ago this blog has warned that Dow could have peaked at 21150. On 5 Apr, this blog warned that if the crucial support at 20515 is cracked, there is a risk that Dow could fall 400 points to 20100. Yesterday, it tested its 3 months low at 20410. It could stage a minor rebound from here, but as long as it stays below 20515, there is a good chance 20100 will be tested.

Tuesday, April 18, 2017


The last time it touched the 50 day MA in Dec 16, a huge rally followed. Today it touched the 50 days MA again but this time a correction may be on the cards. The price action is pointing to more weakness ahead. In the short term it could be headed for 3090 and eventually 3030.

Thursday, April 13, 2017

S&P 500 and the Dow on Wednesday closed below their 50-day moving averages

But both the S&P 500 and the Dow on Wednesday closed below their 50-day moving averages, a technical threshold they last closed under right around Election Day. The S&P fell below its 50-day of 2,351, declining 8 points to 2,344, while the Dow finished Wednesday beneath its 50-day, losing 59 points to 20,591.
The 50-day moving average is just what it sounds like — the average of the last 50 days of closing prices, and technical strategists look at a close below that average as a set up for a potential sell off. Traders will be watching how the stock market moves off of this level Thursday.