Tuesday, February 4, 2014

Daily Summary 4 Feb 14

Europe were down last night but steady. Dow crashed 326 pts to close at 15373. Dow's trend is down. Dow's future is now +46.  Europe opened down.

Asian bourses were all down. Nikkei -611, ShanghaiC -17, Hangseng -638.  STI closed -24 at 2967.  Volume was 2.3b shares. Gainers were 129 to 349 losers.

Trend of STI is down. The index has retraced 500 pts from the high of 3455 in June. This is more than 50% fall from its bottom in June 2012 to its high in June 2013. Should see a rebound. If it falls through 2940, it could be a steep fall from there.

Top volumes were Albedo +0.5, CharismaEner +0.2, KLW +0.1, MDR unchanged, Memstar unchanged, Armarda unchanged, SingHaiyi +0.1, HanKore -0.1, RexIntl +5, Ntegrator unchanged.

STI gapped down on opening but crawled its way up to close with a smaller loss of  24 pts. It fell to a low of 2953. There were signs of bottoming after 2 week's of sharp falls. Blue chips were weaker but penny and speculatives were mixed.

Europe at the moment is down. Dow has also fallen more than 50% from its recent high and a technical rebound is likely tonight

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