Month: October 2016

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SPX rejected 2125

SPX rejected 2125

From my last posting on October 18th, I talked about the SPX trading near the 2125 WAWS support. After hitting the WAWS support level, market totally reversed and went higher. Currently SPX is trading at 2150 and I believe market will stall for a while here for a few days. TICK is still showing range…

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Trump the volatility maker…

Trump the volatility maker…

Today #theDonald aka Trump said that he would not commit to accepting the results of the presidential election if he loses… If he loses, he believes the results are rigged. As of today, pre polling results shows that Trump has no chance to win the Presidential Election and some say, he would be the biggest…

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Black Monday Anniversary here again…

Black Monday Anniversary here again…

Today is the day which the stock market around the world crashed within a short time on 19 October 1987. The crash began in Hong Kong, spread west to Europe, hitting the United States later in the day. The Dow Jones Industrial Index drop exactly 508 points to 1,738.74 (22.61%). Prior to black Monday, was…

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SPX testing 2125 again

SPX testing 2125 again

After the test and rejection of 2125 last Friday, the SPX looks set to test the 2125 again. Monday’s closing saw prices closing at 2125. 30 minutes to market open see pre market prices trading at 2139. Will this last? VIX is recording 15.50 down from a high of 17.96, 3 trading days ago indicating…

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Market it still at it edge…

Market it still at it edge…

Singapore’s growth in the third quarter badly missed expectations on Friday, potentially signaling weakness around the region. Now why am I highlighting Singapore? Singapore is looking into developing its nation into a regional financial hub and aims to rival Switzerland at it. Being a small open economy, if Singapore is bad, it will usually give…

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SPX trading at support….

SPX trading at support….

Last night the we had the FOMC minutes being released. From the minutes, it was stated that the FED was looking for a rate increase very soon. Currently we have the SPX pre market trading at 2120. Strong WAWS support is found at 2125 – 2112. This is a typical news movement where price is…

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What a tumble in gold

What a tumble in gold

The gold tumbled yesterday as traders start to price in a December rate hike from the Federal Reserve. This morning, Gold tried to recover some of its loses but I think this recovery would not be a big one before gold drops further. The main gold ETF, the SPDR Gold Trust GLD, +0.45%  suffered its largest…

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