Monday, October 20, 2014

Daily Summary 20 Oct 14

Dow and Europe rebounded strongly on Friday. Dow closed +263 pts at 16380.  Dow's down trend is seeing a break.  Dow's future is now +37.  Europe opened down.

Asian bourses were mostly up with Nikkei surging 579 pts. ShanghaiC +16 and Hangseng +47.  STI closed +19 at 3187 but dipped further to 3181 after matching..  Volume was a low of 1.2b shares.  Gainers were 237 to 198 losers.

Down trend of STI is seeing the first sign of a reversal if it continues to recover in the next few sessions.

Top volumes were IHC unchanged, APAC +0.1, JES unchanged, Singtel +3, Vallianz -0.3, Genting -1.5, OLS unchanged, Ezion +1.5, Blumont -0.1, Mirach -0.3.

Market was slightly positive on opening and gained more strength but level off later to close +19. Volume was another low of 1.2b shares. Most blue chips recovered with decent gains. Penny and speculatives were generally firmer.

Europe and Dow are looking at opposite direction at the moment.

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