Good Morning Everyone,

Dow Jones ended -93.87 points this morning. Singapore market would gap down upon opening. The movement of the individual counters would be dependent on the market movement later in the day, so please take note of the regional market movement as reference.

Dow Jones went down in the earlier part of its trading hour from 10,425.3 to 10270.9, but went back up later to close at 10332.4. As mentioned in the earlier part of the week, the US stock market has gotten weaker, with the Tech companies posting lower than expected profit and US Dollar strengthening.

 In general, Singapore market is already showing a pull-back as of yesterday, so please be careful with your long position if you do not have the holding power. STI needs to stay above 2761.77 for further upside.   

Counters that we are looking to Short

1) DBS – Below $14.78 & Opening Price

If it rises above $14.78 & Opening price later in the day, we will either cut loss or turn long.

Please note: There is a Support level @ $14.58 & $12.98 level & Resistance Level @ $14.70. 

There is some downside potential for this counter. However, it must stay below & also close below $14.58, in order to see further downside. If not, there will be a possibility of sideways or even upside movement. If you feel that the risk is too big, then please wait-and-see first.

Note: This counter is likely to travel in a tight range today, so please be careful.

2) SGX – Below $8.13 & Opening Price

If it rises above $8.13 & Opening price later in the day, we will either cut loss or turn long.

Please note: There is a Support level @ $7.96 & $7.91 level & Resistance Level @ $8.14. 

There is some downside potential for this counter. However, it must stay below & also close below $8.04, in order to see further downside. If not, there will be a possibility of sideways or even upside movement. If you feel that the risk is too big, then please wait-and-see first.

Note: Please use CFD or Extended Settlement to Short the Counters. Please check with your brokers for more details.  

Thank you and have a Profitable Trading Day!!

Disclaimer: We have gotten the results above based on our Trading techniques, and it is valid for the morning only. Please only reference our analysis only after you have sought advice from your Certified Investment Consultant. The information presented above did not state our profit taking, nor cut loss level. We shall not be legally responsible if there is any loss.