Ernest’s market outlook (6 Jan 2017)

Dear readers, Two weeks ago, I mentioned that although Hang Seng is in a downtrend, it may rebound as oversold pressures build. Hang Seng jumped 928 points in the past two weeks. What lies ahead?   S&P500 Index Just to recap what I have mentioned on 23 Dec 2016 (see HERE), I wrote “S&P500 is consolidating its gains for the past two weeks. It continues to be on a clear uptrend amid rising exponential moving averages (“EMAs”). ADX continues to rise from 36 on 9 Dec 2016 to 39 on 23 Dec 2016 on the backdrop of positive placed directional […]

STI chart as of 5 Sep 16

Ernest’s STI market outlook (5 Sep 16)

Dear all, I am not able to do the biweekly “Ernest’s market outlook” as I am in the midst of transiting to another chart platform. While I am still exploring Chartnexus, here is my interpretation of our STI chart.   STI Based on Chart 1 below, STI faces a cluster of resistances at 2,865 – 2,870, followed by 2,882. ADX remains weak at 17 on 5 Sep 2016, indicative of a lack of trend. Indicators such as OBV, MFI continue to slide with price. RSI closed at 50.5 today. A sustained break below 2,800 is bearish for the chart. Near […]