We are seeing almost all indices hit support and bounce starting week of 8 sep where bargain hunting and buy on dip signal appears in most of the US stocks
VIX has making 7 consecutive lower lows which very likely it will bounce (Stock might take a hit for this bounce. So be careful, do not chase if you miss last week's bargain hunting)
[US Indices and Sectors]
Generally most indices are showing rebounce from support. However the reversal doesn't seems to be strong (No Fast Turtle Buy except Technology Sector ( XLK ) and Nasdaq. Nasdaq FiFT still -ve which indicating BEAR is relatively stronger.
Summary :- Last week we are seeing rebounce from strong sell-off. Considering Nasdaq FiFT still -ve, i worry this is just a technical rebounce (meaning BEAR is not done).
Hence, short term trader may apply hit and run strategy (take profit when Fast Turtle Sell appear)
NOTE :- 17 Sep, FOMC will make a statement and gives their economic projection which will give a major impact to the global financial market.
Similar to US, most of the Bursa indices also bounce from support and forming reversal candles with Fast Turtle Buy.
FKLI bounce from 1500 with fast turtle buy and FiFT turned +ve. This is good news.
ACE Market also trigger SLOW turtle BUY but currently at resistance. Chances of breaking the resistance looks good judging from 3 solid candles.
Construction, Plantation , Technology, Healthcare and Industrial Products appear to be stronger sectors to focus on.
*** Watchlist from 15 Sep ***
ANNJOO - Long consolidation. spike. Wait for breakout.
RGTBHD - BoD
DUFU - FiFT turned +ve
ESCERAM (Ace Market) - BoB above 1.485
AEMULUS (Ace Market) - BoD with
FRONTKN - Fast Turtle BUY. FiFT still -ve.
INARI - BoD, pullback with low .
MI - BoD near EMA50 support (**Good Risk Reward Ratio)
PENTA - BoD. Slow Turtle Buy above 4.
UWC - FiFT turned green.
BPLANT - Slow Turtle Buy with
JTIASA - Wait for breakout about .75
LKL (ACE Market) - Need to break 1.3 to rally
HARTA - BoD but . Hit and Run
KOSSAN - BoD but FiFT -ve and .
PHARMA - BoD
SUPERMX - BoD confirmed with gap up. Need to break 9.8 to continue the rally.
TOPGLOV - BoD confirmed with gap up. Need to stay above 8. Next Resistance is around 9.3 zone.
FINTEC (ACE Market) - BoD, FiFT +ve
Possible buying interest