Singapore: STI Index (.STI) traders watching for developments of next round of US-China talks

Singapore: STI Index (.STI) traders watching for developments of next round of US-China talks

Singapore: STI Index (.STI) traders watching for developments of next round of US-China talks

Asian stocks were mixed on Monday as traders watched for developments on a fresh round of trade talks with the United States this week in Beijing. Markets in China and Taiwan, reopening after a weeklong Lunar New Year break, edged higher on hopes that American and Chinese officials will make progress on a wide-ranging dispute that has weighed on the global economy.

The Shanghai Composite index picked up 0.4 percent to 2,628.50. The Kospi in South Korea declined 0.1 percent to 2,175.04 while Hong Kong’s Hang Seng rose 0.2 percent to 27,991.49. Australia’s S&P ASX 200 was down 0.5 percent at 6,040.00. Stocks rose in Taiwan but fell in Singapore and Indonesia. Japanese markets were closed for a holiday.

Gains by technology and consumer goods companies led most U.S. indexes higher on Friday. They more than balanced out losses by financial stocks and retailers after a mixed bag of quarterly earnings. The broad S&P 500 index climbed 0.1 percent to 2,707.88 and the Nasdaq composite rose 0.1 percent to 7,298.20. The Dow Jones Industrial Average lost 0.3 percent to 25,106.33. The Russell 2000 index of smaller company stocks advanced 0.1 percent to 1,506.39.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 3,285.14.

The projected lower bound is: 3,125.90.

The projected closing price is: 3,205.52.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 67.0516. This is not an overbought or oversold reading. The last signal was a buy 9 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.54. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 69 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -3. This is not a topping or bottoming area. The last signal was a sell 15 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 10 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 1.300 at 3,203.340. Volume was 8% below average (neutral) and Bollinger Bands were 68% narrower than normal.

Open High Low Close Volume___
3,176.0003,205.7603,174.0003,203.340 196,364,304

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3,193.32 3,132.44 3,225.34
Volatility: 6 16 15
Volume: 196,815,872 197,039,616 230,879,968

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

STRAITS TIMES is currently 0.7% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of .STI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .STI and have had this outlook for the last 21 periods.

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