Thursday, June 12, 2014

Daily Summary 12 Jun 14

Dow and Europe were down last night. Dow -102 at 16844.  Dow's trend is up but short term is weakening. Dow's future is now +9. Europe opened slightly up.

Asian bourses were mostly down. Nikkei -96, ShanghaiC -3, Hangseng -82.  STI +5 at 3295.  Volume was 2.6b shares.  Gainers were 226 to 198 losers.

Short term trend of STI is also weakening.

Top volumes were CEFC +0.7, TSH +2.1, Sincap +1.6, LH +0.1, SinoConstruction +3.5, Epicentre +2, TopGlobal +0.1, ChinaYongSheng +0.3, CNA +1.2, Memstar +0.2.

Market opened down but recovered immediately to stay flat. It gained a few more points in late afternoon to close +4.5. Blue chips were mostly positive. Penny and speculatives continued to be in play with the top volume 40 counters all green.

Europe and Dow are marginally positive at the moment.

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