Singapore’s Straits Times Index gapped above resistance at 3000 today, confirming the primary up-trend, and is currently trading near 3020. Target for the initial advance is 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
Singapore & Korea
Singapore’s Straits Times Index is in a primary up-trend. Breakout above medium-term resistance at 3000 would confirm the advance to 3200*. Any retracement is likely to encounter support at 2900.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
The Seoul Composite Index shows a similar pattern, running into medium-term resistance between 2000 and 2050. Expect good support at 1950. Breakout above 2050 would confirm the advance to 2200.
* Target calculation: 1950 + (1950 – 1750 ) = 2150
India retraces
The Sensex Index is retracing to test its new support level. Respect of 17200 would indicate that the up-trend is intact, while failure would warn of another test of primary support at 15000. Long-term buying pressure remains healthy if 13-week Twiggs Money Flow forms a trough above the zero line.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
The Nifty Index is similarly testing support at 5200. Recovery above 5600 would confirm the primary up-trend. 63-Day Twiggs Momentum above zero suggests a healthy up-trend.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
Singapore SGX: Potential breakouts
Some good potential breakouts on Incredible Charts screen #48888:
- China Taisan (F2X)
- Hong Leong Asia (H22)
- Amtek (M1P)
- Singapore Exchange (S68)
- Cosco (F83)
- Neptune Orient (N03)
Singapore SGX: Top Momentum stocks
Yoma (Z59) breakout above 0.50 would signal another advance. Both Twiggs Money Flow and Momentum are bullish.
I also like the look of Sky Holdings, Interra Resources and Ezion Holdings:
Although Ezion faces some profit-taking at 1.00 that could slow a further advance.
India & Singapore retrace
India’s Sensex index retraced to test support at 18000 on the daily chart. Bearish divergence on 21-day Twiggs Money Flow indicates medium-term selling pressure; respect of the zero line would suggest a strong primary up-trend. Respect of 17,000 on the index chart would also be a bullish sign.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
Singapore’s Straits Times Index (weekly chart) also shows retracement. Expect a test of support at 2900. Respect of the zero line by 63-day Twiggs Momentum would confirm a strong up-trend, with an initial target of 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
India Singapore breakout
India’s Nifty Index broke through resistance at 5400, following breakout from its downward trend channel, to signal the start of a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
The Sensex Index broke through 18000 to confirm the Nifty signal, following an earlier bullish divergence on 13-week Twiggs Money Flow. Target for the advance is 21000*.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
Singapore Straits Times Index cleared resistance at 2900, signaling a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
Singapore SGX: Potential breakouts
SGX stocks with low 63-day Momentum but strong buying pressure as measured by 21-day Twiggs Money Flow. Illiquid stocks filtered out using $500,000 daily Value/Turnover filter.
Singapore SGX: Top Momentum stocks
Top Momentum stocks identified using 63-day Twiggs Momentum and $500,000 daily Value/Turnover filter:
India and Singapore bullish
India’s Sensex is testing resistance at 18000, while a sharply rising 13-week Twiggs Money Flow indicates strong (medium-term) buying support. Breakout would offer a target of 21000*.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
NSE/S&P Nifty Index is similarly testing resistance at 5400. Target for a breakout would be 6200*.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
The Singapore Straits Times index has broken through resistance at 2900. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level, but target for the advance is 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200