Friday, September 26, 2014

Daily Summary 26 Sep 14

Europe and Dow were sharply down last night.  Dow -264 closing at 16946.  Dow's short term trend has turned down. Dow's future is now +85.  Europe opened mixed.

Asian bourses closed slightly weaker.  Nikkei -144, ShanghaiC +3, Hangseng -90.  STI closed flat at 3291, +1.  Volume was a record low of 1.3b shares. Gainers were 171 to 268 losers.
 
Trend of STI is slipping down a bit.

Top volumes wer Xpress +0.1, IHC unchanged, APAC unchanged, OLS unchanged, LH +0.1, Mirach unchanged, Oceanus unchanged, SIIC -0.3, Blumont unchanged, ThaiBev  -0.5.

With the sharp fall in Dow STI opened down 14. It started to recover and by late afternoon was nearly flat. It stayed flat for the rest of the day and closed barely positive. Volume was a miserable 1.3b shares.  Blue chips were mostly weaker but off their lows. Penny and speculatives were generally weaker as well.

Europe and Dow are steady at the moment and may recover some of yesterday's losses.

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