DJIA and STI

While I see HSI is already in deep shit (pardon my language), DJIA and STI is stil holding on as we speak.


Fig DJIA Daily Chart

The DJIA daily chart is in fact showing weakness through its indicators, both Stochastic and RSI created divergence on Dow's higher highs, so to me it may be a bit of a risk to enter US market now. However, the Dow as defiance as ever, is making attempt to break the downtrend resistance. It is presently supported by its 21 days moving average at 10,261.


Fig 2 DJIA Weekly Chart

While the daily chart sees Dow breaking through the resistance, the weekly chart shows that there are leeways for Dow still. The resistance on weekly basis is at 10,501. So it is still possible for Dow to head there. This is supported by its indicators which poised a reverse up trend.

S I figure that it may still head for 10,501 with further divergence on daily chart. Still, coming down is a matter of time, of which Dow will deside.


Fig 3 STI Weekly chart

As for STI....Well, it is still stuck inside its slightly inclining slope. Seriously it is still undecided which way to do. Support is relatively good at 2,751 while resistance is climbing gradually. At least for this week, its resistance level is 2,818.