Good Morning Everyone,

Dow Jones ended +50.79 points this morning. Singapore market would gap up 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 closed at 10,464.93, rebounding from the support level of 10,235. The US market opened with upbeat news that the 3rd Quarter GDP and existing home sales are up. Dow Jones currently has a support at 10,235 level and a resistance at 10,500.

Please note that the low volume or lack of participation could result in some volatile movement, since low trading volumes tend to exaggerate swings in the market.

Reports coming out tonight:
Wednesday (23 Dec)
Personal Income and Spending results for Nov
New Home Sales
Crude Oil Inventories

STI managed to close at 2823.82 yesterday at a new 2009 High. It is likely to gap up when open this morning and there is likely to be profit taking in the earlier part of the morning.

Disclaimer: We have gotten the results below 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.

Counter that we are looking to Long

1) Semb Corp – Above $3.58 & Opening Price
If it falls below $3.58 & Opening price later in the day, we will either cut loss or short.
Please note: There is a Support level @ $3.53 & Resistance Level at $3.64 & $3.73.

There is a support for this counter at $3.53. The target for today is to go above & also close above $3.58, in order to see further upside. If not, there will be a possibility of downside movement.

Note: If I have not bought this counter yet, I will enter with if it is above $3.61 and Opening Price. Please note that there is an invisible resistance at $3.64. If it can break through, my target is $3.73.

2) Olam – Above $2.59 & Opening Price
If it falls below $2.59 & Opening price later in the day, we will either cut loss or short.
Please note: There is a Support level @ $2.55 & Resistance Level at $2.62, $2.66 & $2.82.

This counter found a support at $2.55 which also acts as a resistance at this moment. There is a resistance at $2.62 which it needs to break above, for an upside potential to $2.66, followed by $2.82. At this point of time, it must go above & also close above $2.59, in order to see further upside. If not, there will be a possibility of downside movement.

Note: If I have not bought this counter yet, I will enter with lesser lottage if it is above $2.59 and Opening Price. Please note that there is a resistance at $2.62 that it needs to break through. If it can stay above $2.62, then I’ll add more lottage.

Thank you and have a Profitable Trading Day!!