A New Week... Life Goes On...
I paused blogging here since last Wednesday due to a sudden family tragedy... it happened right on the day the Dow made the 3.29% jump (yeah, its got nothing to do with the stock markets really). My grandmother was down on lung cancer and is now in terminal care.
Really makes me think a lot about life and money. My grandmother has been a really wonderful lady who gave birth to one of the most powerful families here in Singapore. Wealth and luxury was certainly not of lack but in the end, her only hobby, smoking, landed her in terminal care at an age which commonly has another 10 more years to go (81 years old). Wealth and health must certainly go hand in hand. Without health, wealth means very little. I hope all traders and investors take care of your health so that you may enjoy the wealth that comes.
Last week was a surprising week to most traders as the Dow collasped 4.22% and the Nasdaq Composite avalanched 5.85%. In fact, global markets corrected everywhere and attributing it merely to the china market is a little pushing it too hard. Global instability has come to a point where it must show up in the stock markets. So far, nothing that happened in the world; Iranian crisis, 3 carrier battle groups dispatched to the middle east, North Korean nuclear crisis etc... has showed up in the stock markets. It really made me feel like the stock markets are hosted on Mars where matters on earth, except for how oil is being traded, affects it.
Both the Dow and the Nasdaq composite has breached their 100 days moving average and looking very bearish. I see short term psychological support for the Dow at 12000 and long term support on its 200 days moving average of about 11750. As for the Nasdaq composite, I see short term psychological support at about 2330 and long term support on its 200 days moving average of about 2285.
There are no signs that this correction is coming to an end yet, however, a strange thing did happen. Usually, with a correction this big, my proprietary Star Trading System would be pouring out an avalanche of bearish trades which we profit using put options, however, this time round, there was almost no signals to downside coming from the system. Does it mean that this correction is not going to last afterall?
Technical Charts By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!
Really makes me think a lot about life and money. My grandmother has been a really wonderful lady who gave birth to one of the most powerful families here in Singapore. Wealth and luxury was certainly not of lack but in the end, her only hobby, smoking, landed her in terminal care at an age which commonly has another 10 more years to go (81 years old). Wealth and health must certainly go hand in hand. Without health, wealth means very little. I hope all traders and investors take care of your health so that you may enjoy the wealth that comes.
Last week was a surprising week to most traders as the Dow collasped 4.22% and the Nasdaq Composite avalanched 5.85%. In fact, global markets corrected everywhere and attributing it merely to the china market is a little pushing it too hard. Global instability has come to a point where it must show up in the stock markets. So far, nothing that happened in the world; Iranian crisis, 3 carrier battle groups dispatched to the middle east, North Korean nuclear crisis etc... has showed up in the stock markets. It really made me feel like the stock markets are hosted on Mars where matters on earth, except for how oil is being traded, affects it.
Both the Dow and the Nasdaq composite has breached their 100 days moving average and looking very bearish. I see short term psychological support for the Dow at 12000 and long term support on its 200 days moving average of about 11750. As for the Nasdaq composite, I see short term psychological support at about 2330 and long term support on its 200 days moving average of about 2285.
There are no signs that this correction is coming to an end yet, however, a strange thing did happen. Usually, with a correction this big, my proprietary Star Trading System would be pouring out an avalanche of bearish trades which we profit using put options, however, this time round, there was almost no signals to downside coming from the system. Does it mean that this correction is not going to last afterall?
Technical Charts By Worden Brothers TC2007 Charting Software
Voted Best Software By Readers Of Stocks & Commodity Magazine Since 1993!
Labels: dow, fomc, fundamental analysis, fundamentals, investment, oil prices, share market, stock market, technical analysis, technicals, us market
posted by Jason Ng at 6:38 PM
2 Comments:
Sorry to hear about your grandmother.
Glad to see you back and blogging, though!
My grandmother's funeral was completed today. It was the grandest funeral that I have ever seen and I doubt I will ever see something like this again. She was such a fantastic person who gave birth to so many fantastic offsprings who has so much to offer to the world. I hope she finds the other side well.
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