Latest Updates for death of ISIS Leader Baghdadi

In the midst of all these news, a leader of a force is not its roots. There is a focus on the importance of US in the world to remind world leaders and citizens on why US is irreplaceable. Personally, I am Neutral on the above perspective because it’s a political move.

This will likely push the stocks up by end of 28 October trading session in US. (GSPC Reached All Time High as of 2300Hrs)

Singapore market rallying slowly in view of Q3 reports

As the global economy continue to be hammered by the trade war, reports for Q3 will likely be slightly lower than expectations. This might extend Singapore’s market consolidation, as investors will continue to exercise caution.

It is still a little early to redo TA for STI charts. However do take note that there is still some upside considering that DJI and S&P 500 finished green on last Friday at closing. Due to our Public holiday on Monday (SG markets closed for the day), there is a small chance for some conflicting results by the end of Monday’s closing for US market. Will update on this blog if required.

STI – Near Term (Daily Chart)

The convergence as shown on the daily chart, extrapolated by the weekly chart shows that there is likelihood for the market to hit uptrend support or breaking the support entirely. However, since the market is closer to the support rather than the resistance, investors are currently less active in making long positions. Though accumulations are common at this stage, my recommendation in near term is to stay out for non-swing trade positions. (Consistent)

STI – Till end of 2019 (Weekly Chart)

Depending on the sincerity of the truce between US and China, I believe that there might be a mini rally for Singapore market if it rises about 3222 before the end of 2019. (Showing signs of temporal peace) In such case, I will recommend reentry in stocks if it has passed the fibonacci resistance as shown below. (Maintained)

Author Calls (from 14 October)

• STI rallying towards 3222 Fibonacci resistance (updated)
• STI 9 month MA at 3220
• Impending bad news from businesses when next Quarter reports are out (consistent)
• No long positions recommended
• Good opportunities for light Swing Trades (SG banks)