Both Nikkei and SiMSCI may track the Dow

The Dow Jones index seems to be heading for further correction. And I was wrong about the uptrend on the SiMSCI and Nikkei over the past 2 weeks. I am out of SiMSCI and cut loss at 248.5.

The Singapore SiMSCI index may just track the correction on the Dow and falls toward the 242-243 levels. The upside for SiMSCI is weak and the resisitance is around 250. I may turn short on the SiMSCI for daytrade over the next 2 to 3 days.

As for the Nikkei 225, I will be monitoring closely and wait for good level to buy.

Uptrend to continue for SiMSCI

The SiMSCI looks like gathering strength around 250.0 level before resuming the uptrend. Overall, the trend is still up and I am looking to buy around 249.8 to 250.5 and I will place my stop at 248.3.

Nikkei 225 trend is pointing up too. I will watch the US market closely to decide on my setup for Nikkei.

Bursa Malaysia fka KLSE

Bursa Malaysia is the new name for Kuala Lumpur Stock Exchange. Didn't know when the name changed but it had to be recent. Noticed from one of my server log that people are searching for Bursa Malaysia and landed up on the KLSE page.

It will probably take some time before people get comfortable with the new name. Does the word "bursa" means "exchange" in Malaysia?

SiMSCI and Nikkei 225 stalling?

Over the past 2 days, both SiMSCI and Nikkei 225 were not moving up as we thought it might in our previous post. Today's SiMSCI low was 247.6 and closed at 248.2. Time to be very careful with your long positions. If you are still in profit, you may want to take profit now.

Why do I say that? The DOW is turning down. No sign for bullish view.

Wait for the market to tell you what to do. Wait...

Both Nikkei 225 and SiMSCI look strong

First, let's look at Nikkei 225 cash index. Over the past 2 week, the Nikkei had been doing quite well. The trend is bullish. It has made a 3 month high and broken the previous high of 11,410 made on the 7 Oct 2004, refer to candlesticks chart below. If you've studied the weekly chart, you may come to the same prediction that I have - the bull is climbing up to 12,000 level.

Next, let's look at SiMSCI. Since the last post, the SiMSCI has again made new high. The previous prediction on the SiMSCI's trend was right - it was going up. Before we make further prediction as to where SiMSCI is heading, let's take a look at the higher time frame - the weekly chart.

The trend is obvious, isn't it? So is it going to the moon?

Well, just be careful at these levels: 253.0, 255.o and 258.o. The immediate support is at 248.0, so I will definitely put a stop there for any new long position. So if you have bought at levels below 248.o, good for you.