Past few (3) days, we saw US market kept coming down and Asia markets followed? Last Friday itself, US equities market dropped closed to 2%. Tuesday, Asia market STI took the lead dropped by 2.4%. Many people out there said that it was all because of oil, yesterday China HSBC PMI and the FOMC.
Oil? Let me show you something. Let's look at yesterday worst Asia index STI. Look at the 4 charting below. The leading bank - DBS and UOB. The leading oil and gas companies - Keppel and Sembmarine. What do you see? Past 3 days, which counters fell the most? So if you said the past 3 days fell was because oil............
Because of yesterday China HSBC PMI? Let me show you Shanghai charting. What do you see? Yesterday it went up, wasn't it?
FOMC? Yes, this is something that we need to watch out for as it may relate to interest rate. US indices like the DOW and S&P, they are very close to it 200MA and FIBO 50% major support level. So watch out for signal. Trade what you see.
Oil? Let me show you something. Let's look at yesterday worst Asia index STI. Look at the 4 charting below. The leading bank - DBS and UOB. The leading oil and gas companies - Keppel and Sembmarine. What do you see? Past 3 days, which counters fell the most? So if you said the past 3 days fell was because oil............
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