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Tuesday, March 30, 2010

Market Update

US market Monday numbers:

Dow: 10,895.86 +45.50, it's highest close since September 2008
SPX: 1,173.22,+6.63
Nas: 2,404.36, +9.23

Local STI up 22.86 points closed at 2929.14 yesterday. It's just benearth the Jan resistance level 2940, another 20~30 points up is possible. I will stay cautious for long positions and take profit for short term trades.

Technically, Market especially US market is over extended to the upside. As for STI, MACD is still bullish, but RSI and Full Stochs are in the overbought region.

Well, what we mean is market won't keep going up like this forever, the big question is: when the music stops, will you have a chair to sit on? Get prepared always.

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