Some light seen

Nothing much to comment on the Dow Jones. It tested the resistance of around 13244 on the latest's closing and close near this resistance. The next 2 closings for the rest of this week will determine the trend for next week. A close above that resistance with heavier volume will prove to be a piece of good news.

Dow Jones Industrial Average:


STI managed to filled up the 2 downside gaps that was mentioned in my previous entries by closing on an upside gap. It tested the 50d and 100d EMA today and close at the 100d EMA. Notice how the today's close was very near the previous high thus a close above this previous high and above the 50d EMA will be great. Not trying to sound extremely bullish, but there are bullish divergences on the indices for MACD, RSI and A/D line. Perhaps the time has come for a trend reversal but main thing to watch out will be a higher high and a higher low.

Straits Times Index Chart:


Ausgroup seems to be breaking out out the horizontal resistance near $1.795 which was a support line on 3 previous occasions. Today it broke out with a high volume. Notice how the MACD is abt to have a crossover and there is a A/D line bullish divergence. If the indices turn bullish on friday, a entry may be warranted if the price retrace back to the resistance of $1.75 with light volume.

Ausgroup Chart: