Market Technician

Singapore Exchange (S68) Last week we saw various cyclic sectors rally, especially when we reported 4.6% GDP growth for 3Q17. With both broad market and financial sector showing positive momentum which statisfy the 1st two steps of the Wyckoff Method, traders is still not too late to look into the following financial stock which is showing potential sign of breaking out of its symmetrical triangle pattern (accumuation). Personal View. Fundementally, Singapore Exchange (S68) is also showing positive o ... utlook for both its deveriatives and securities business, which may see earnings growth in the coming quarter's financial reporting. Disclaimer Applies.

Glad to be invited by Hong Leong Investment Bank in KL, Malaysia to speak to their clients on trading indexes and individual stocks. We had a great time, sharing with them how to combine Technical tools with fundamental information to forecast future price.

Glad to share the same stage with Straits Times Goh Eng Yeow this morning for his book launch event. Shared simple application of linear regression on timing market indexes.

Price consolidated in a re-accumulation zone within US$50-US$53 since early Aug. Earlier yesterday, we finally saw the price did a breakout (Sign of Strength) above US$53 level, and  closed above US$53.00 on the 4-hourly chart. This gave us conviction that oil  is trading in a Mark Up phase with 1st objective set at US$54.50.  The 1st objective level is set based on a confluence of factors which includes previous  resistance level  and  Fibonacci projection  of 161.80%. Similarly, the 2nd objective is also based on confluence of previous resistance and  Fibonacci projection  of 261.80%. Momentum indicator, MACD, also continue to displayed upward momentum with the MACD trading above zero line. In addition, oil would be trading towards a seasonality strong period bought by the colder weather towards year-end.

Here are behind the scene shooting of Channel News Asia's upcoming reality show, Money Mind Challenge 2017 , where 10 traders compete for the top prize. I'm delighted to came in the show as their Trading Bootcamp Trainer. Great experience to impart the contestants with my trading experience and knowledge. The show is a 7-part series starting this Saturday, 9 Sept, 10.30pm on CNA. Catch it if you can. It was also a great catch up with David Kuo of Motley Fool, Terence Wong of Azure Capital, Fredrick of Channel News Asia and Weiren of iFAST, who are the judges of the show.   Again, wishing the very best to the contestents!  The Trading Bootcamp   Introduction of the Contestents With Dawn Tan From Left: Brandon Leu, David Kuo, Terence Wong, Fredrick, Weiren Lights Camera Action

GLD USD (O87) Above is the weekly SPDR Gold ETF chart that I've sent to clients yesterday. The trend is supportive of a breakout with the higher high and higher low observed. In addition, the MACD, a momentum indicator consolidated for a good probability of a breakout towards USD130. 

Shanghai Sock Exchange Composite (SSEC) Significant break from the bullish Ascending Triangle pattern after close to 2 years of consolidation. 1st target set at 3,680 which is the confluence of the 261.80% Fibonacci projection and previous resistance set in late 2015. If strong momentum persist, we could see the index trading towards the 2nd resistance at 4,000 which is the confluence of 423.6% Fibonacci Projection and previous resistance created in mid 2015.