Market trend April 3rd

All the markets corrected sharply last week. So I am kicking myself for not brave enough to add more position. I “sort” of know it will rebound sharply after the Japanese earthquake hits. Especially when I saw all other major market’s upward trend is still intact.
It is always easy to blame our inaction for what has happened. Everybody is an expert after the event has happened. I put this “inactiveness” blame on mental strength. I don’t have strong enough mental strength to seize the opportunity when it presents itself. How do you build up your “mental strength” you might ask. Well, I put it down as 2 things: experience and knowledge.

I am quite sure after this round, my mental strength will definitely increase. At least compared to the last round, I added some position. Not a lot, but at least some. 🙂

Or right… enough of “my stuff”. Let see what is the trend going forward…
1) DOW and Nasdaq
-Both are showing a lot of bullish momentum. The indexes when all the way pass the Moving averages. 20, 50 and 100MA. The volume is slightly on the low side, but not that bad. which means it might take a rest at around 12425 level (DOW) at that was the previous peak. If the index goes pass that, it will be a very clear indication of the bullish trends.

2) Hang Seng
-Notice I drew a downward sloping trend line at the top. This trend line is telling us that the index is moving downward for the past 6 months. again not surprising as China is still trying to cool their over heating economy.
-Next week will be interesting to see if the index can break the downward trend. If it does (go pass the 23800) mark, it is another sign of a trend reversal.

3) STI
-The index has recovered pretty well. it passed through the 20, 50, 200 MA like nothing! So very bullish signal.
-I also drew a downward trend line on the chart. But not like the Hang Seng, it has not reach the top of the trend line yet. So it mean there are some distance to go before any trend reversal.
-So I would say it might rest a bit at current level (3118) with high chance it will go up more. As last post, I will be looking out for some bargain to pick up.

Let me know what you think.