Earnings reporting week ahead, so far Apple and Facebook EPS’s were solid despite Apple and FB haters continued to weight negativity toward these two giant tech companies.
US FOMC chairman, J.Powell hinted no US interest rate hike for 2019 likely to boost US stock market at the expense of weaker US dollars.
Remember that Smart Money Operator distributes under the disguise of good news… Right Now… I am hearing so many good news….
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KLSE Market Update
Bursa Malaysia KLCI Index
On 2019-01-30, KLCI is trading at RM 1684.11 and change % from last bar was -0.37 %, (-6.30, RM 1690.41). And also within 3-Month low. This market condition is considered be bearish for index KLCI. However, KLCI is in GREEN HeatZone. This market is LIKELY moving from Stage 1: Accumulation to Stage 2. Mark-Up. Look for possible SOS like Line Change (LC) and No Supply (NS) for bullish uptrend. Wait for bar confirmation like Line Change (LC) for trend continues @ RM 1705.5 or higher.
SGX Market Update
Straits Times Index
On 2019-01-30, STI is trading at 3,174.38 and change % from last bar was -0.41 %, ( -13.31, 3,187.69). And STI’s also 3-Month high. This market condition is considered to be very bullish for stock counter STI. STI has weaknesses in the background in the last 30 bars. There are 5 SOW (Sign of Weaknesses). This market is LIKELY moving from Stage 1: Accumulation to Stage 2. Mark-Up. Look for possible SOS like Line Change (LC) and No Supply (NS) for uptrend. Wait for bar confirmation like Line Change (LC) for trend continues @ 3,220.68 or higher.
DJIA Market Update
Dow Jones Industrial Average (DJIA)
On 2019-01-30, DJI is trading at 25,014.9 and change % from last bar was 1.76 %, (+434.9, RM 24580). It is 1-Month high. This market condition is considered to be bullish for index DJI. Yesterday’s bar is 18 Line Change. Good Bullish move if next bar closes higher. Now, Line Change or No Supply SOS bars are in CONTROL now. Expect upside likely after 2019-01-30.