CHINAXLX

Rare double false breakout. Catalyst is same-sector Potash rejection of BHP takeover bid. Holding XLX for two months, finally awaken?

Backtest

Last week major stock indices took a beating. Still sitting on my long portfolio as I see it as a test of the prior bullish breakout. What is worrying is at a time when indices are strong and vibrant, a good number of stocks are at their lows. Underlying weakness in market?




Tip: here's a simple way to tell direction of trend of a stock or index. Compare the price today versus one month ago. Is it much higher -> bullish. Is it much lower -> bearish. Is it about same price -> ranging.

Breakout?

This week indices attempted to break the current downtrend. Beware should there be no increased demand in broad market next 2 weeks.

It may be a good idea to follow NIKKEI too. Being the weakest amongst indices, its likely to drop first on first sign of trouble.

Updated some charts:

HSI, DJI, CHINAENV, SYNEAR, XLX, NOL & MERMAID

HSI Chart

3 important lines on HSI chart. Compare that with DJ chart.


Updated 24th Jul:
System z flashed a buy signal for HSI at 20250. The previous buy signal in feb saw a rally of 1800 points in HSI. For manual analysis, this week HSI breakout major resistance line in above chart.

CHINAENV

Active trading with good upside volume when SSE in the process of attempting reversal. Potential runner in the making?


The old s-shares bulls seem to be congruent in phase.
Could potentially become big winners moving forward.

HONGXING, LIHENG, ENERGY, SYNEAR, ENVIRO

Updated 24th Jul:
HONGXING has already rallied 16% since my buy call two weeks ago. The others are starting to get market's interest with upside volume.

Barometer

Sometimes there are pretty symmetrical stocks which we can make use of to tell market bias from the way they deviate from neutrality.

NOL Long

Market isnt very committed to upside recently. Too much supply of shares into market on a "self-fulfilling head & shoulders prophecy" in DJ. See whether sentiment improve should SSE/DJ reverse well.


Updated 11th Jul:


The chip has run, could it be time to switch to 2nd-liner?


Updated 15th Jul:


Updated 24th Jul:
Last two rounds MERMAID huat (shared here and also cna forum), 3rd time hat trick would be better to stay off the stock for a while.

Dow Jones

Another tipping point. Be prepared, uncertainty rules.


Updated 11th Jul:


Updated 18th Jul:


Updated 24th Jul:

SYNEAR

Potential laggard play for next bull leg when SSE manage a reversal.


Updated 8th Jul:


Updated 24th Jul:

XLX Zones

Chart of XLX showing the 3 lines and their corresponding zones.


Updated 8th Jul:


Updated 24th Jul: