Singapore ETF, EWS to decide... bear in mindNot so much bullish from US elections, and quite the opposite really.
Already broke the support line as previously marked. Now, it is in a decision zone.
MACD is crossing down and VolDiv already crossed down.
Looks a more bearish outcome tho... even with a surging US market, the EWS would probably taper down instead of fall off cliff kind of thing.
Straitstimesindex
Singapore STI ETF (EWS) - Retracement modeIt has been a while since I pulled up this chart. Missed on the bullish breakouts twice in 2024. Thing is that it is very obvious the technical indicators are stretched and long in the teeth... and a recent spike ended with a consolidation.
Given all these, a break down of the condolidation support would spell a strong retracement.
Coming soon... akan datang.
Singapore STI ETF (EWS) - Royal Flush Part VEWS really going to do it this time it seems... close below the support line.
This is premature on the weekly chart, but heads up, two things to happen...
First, a close below the support means a breakdown underway, especially if it is accompanied with a lower low.
Second, there needs to be a late week rebound strong enough to get it back above support line. Then there is half a chance for a reversal.
MACD appears not as bearish really.
VolDiv is somewhat bullish to be honest.
I'd watch this closely...
Singapore STI ETF (EWS) - Royal Flush Part IVAs previously posted, BEAR. The thing is, since the last post, the EWS (and other indices) made a sucker rally that pulled in the bulls. And a few weeks later, they burned.
This time, the burn is shown by a failed breakout that is followed through the other side. Technical indicators are now in full support as cross downs are registered. Critical supports are broken. New downside targets shown.
SINGAPORE STI ETF (EWS) - Royal Flush part IIIJust to highlight the Singapore going into technical recession]news first... that a technical recession is in the horizon, closer than we even realize.
Otherwise, the EWS SG Singapore ETF, is technically challenged, with imminent downside.
1. Lower high made, and a possible imminent lower low to come in the next weeks. Breakdown below the red line is a lower low;
2. Downside target 1 hit. One more much further;
3. Last week's candlestick has momentum for more downside;
4. MACD crossed down and below zeroline; and
5. VolDiv continues to deteriorate...
All these points to breaking a lower low, and thereafter more downside to the lower target
SINGAPORE STI ETF (EWS) - Royal Flush part IIAs expected previously, the Singapore STI (EWS) hit the first target range. It appears to have bounced off a bit in the short week (Friday is a Public Holiday, being Vesak Day). However, the technical indicators accentuate that there is more downside to come...
Breaking down below the support to form a lower low is confirmation for the lower target to be the next downside target.
Singapore STI ETF (EWS) signals a rough 2022The Singapore bourse STI ETF, EWS, has a very ominous outlook for the next couple of months into the end of 2022.
Hyperinflation could be the current trending killer, but seems like more is likely to add on. Not sure what shoe will drop, but the charts tell it as it is...
April and May ended badly entering into a range that saw May break down of that range briefly. The monthly technicals are showing a lot of underlying weakness, and the first downside target is shown.
The lower range band must hold, and is quite likely to be tested and should hold (at least seen at this point). Otherwise, a low more downside will ensue...
Heads up for the next half of 2022 Singapore!
STI (EWS) in Primary Downtrend (TD Sequential)The Singapore Straits Times Index (STI) is in a primary Downtrend.
This is observed and concluded from the TD Sequential analysis.
Referring to the monthly chart for the STI ETF (EWS)...
The EWS in recent months had broken down hard, and bracked below the TDST support line within the downward TD Sequential. Now, typically, this series is called the Buy Setup, as it "times" the downtrend for a reversal. The reversal came in a short month (9th candle), and the following month (August) closed with a candlestick bearish in close, and also bearish in pattern where there is a long top tail that is at least twice the length of the body.
Monthly technical indicators are bearish too, although not extremely.
The next couple of months should see the EWS, and STI move lower. A very critical support is about 16.5-16.6, where the lows of the GFC and the Pandemic routs align a supporting trendline.
BEARISH Wave!
STI Sneak Peek Noted the current Double Top formation on the STI (Straits Times Index, Singapore)
Oddly, 4 April was the advanced marked date for a top (hence, red time line).
Previous marked dates (thing lines) and forward marked dates (thick dotted lines) are there. It is intriguing to see the uncanny accuracy over the years.
STI weakens end August. Beware of 3024.Profit taking gas been observed in all the heavyweight STI component stocks based on the STI Matrix Heatmap including the banks and property counters.
The STI has been in a range since 080321 between 3024 and 3237 for 5 months now.
On a longer term outlook, the long signal on 010321 at 3108 on the monthly charts must break above the range at 3237 to confirm a move to 3406.
A break below 3024 will signal a pullback of the STI to 2652.
A short signal is now active on the 4hr and the day charts at 3144.
LONG TERM UPTREND since 010321
MEDIUM TERM UPTREND since 071120
SHORT TERM PULLBACK since 190821
PIVOT 3024
Long positions above 3024 for 3199 and 3406
Short positions below 3024 for 2805 and 2652
DBS also has downside riskDBS, the biggest component of the STI, appears to have great downside risk.
Breaking below support of 29.60, after a lower high, means a lower low is put in place.
The weekly chart already had a Bearish Engulfing last week, and this week (left with 1.25 days) closing down below 29.60 to end the week would be another toppish candlestick pattern called the Three Outside Down pattern. Bad for tops.
MACDs and RPMs look like shite... heads up.
Oh, btw... may be a couple of weeks for this to pan out IF it really breaks down.
SG: STI gonna snook manyBullish case for the STI
1. Technicals are looking bullish
2. Quick recovery after failing the 55EMA
3. Waiting to break out of trend line resistance
Bearish case for the STI
1. IF it breaks down the support of the last low, it is a goner.
and somehow, IF I had to make a call, against obvious odds, I see that in higher and unexpected probability of a down draft.
Let's see by the end of the week... heads up anyways!
STI in trouble... seriously.The Straits Times Index (STI) rallied so hard at the beginning of 2021, only to sputter out, failing to break over 3000 , clocked a Lower High, and today, a Lower Low. The past two weeks have been under a Sell signal too.
It's troubles are just beginning as a series of Gap Downs skipped through a couple of gap support levels, and is now testing to break down below the 55EMA; wait till end of day.
The RPM and MACD indicators are clearly bearish.
Look's like the early January rally will be erased... as downside target is at 2800.
SG Market Technicals Ahead (7 Dec – 11 Dec 2020)The Straits Times Index (STI) retraced -0.56% (-15.93 points), implying the play of the weekly Bearish Shooting Star candle highlighted last week. This retracement also coincide with the gap resistance zone of 2,900-2,960 levels.
However, STI have exhibited its first major moving average golden cross (50DMA vs 200DMA) which was last witnessed in March 2019. The significance of this major MA golden cross is a midterm predictor for direction of its market index in the next 6-9 months. The major support to watch at this junction is at 2,785 level, a minor classical support established last week.
DBS on a sunny island... setting into the seaDBS, a big component of the STI (Straits Times Index) finds itself on an island (yellow circle)
This is precarious... a drop below the current support will result in a decent retracement.
MACD and Relative Price Strength already turned down... so it is held up with very little.
Be aware, beware!
Singapore Straits Times Index (STI) has Dark Cloud Cover issues!Technically, this is a classic pullback all set up...
A strong rally to the upside based on vaccine elation
supported by financials and sectors for "going back to Normal"
followed by a Dark Cloud Cover candlestick pattern
that was confirmed with a Gap Down.
It is just above a range support, but breaking into the next Gap Down range (below the red line) would be very bearish.
MACD is showing a bearish cross down
Similarly the Relative Price Strength has crossed down
What this means is that to keep up with the bullish rally, there needs to be a much greater upward push...
which is less probable than the easier downside retracement.
Still, this downside may be quick, shallow and a set up for the bigger picture in 2021...