Random stock, forex observations for the day
FT100 volatility at 6100
On the 5-minute chart time frame, this nearly 2-hour struggle between bulls and bears definitely spell ‘Big Fight‘. In my opinion, this is a lot of effort to defend 30 points or only 0.5% of the index. Is it worthwhile to throw in so much treasure to defend such a small real estate? Reminds me of the movie ‘Hamburger Hill’. #pyrrhicvictory
- Hour to hour, FT100 is trending down.
- It is fighting below day open which means this far the index is in the negative and sentiment bearish.
- Is this region a pivotal point? That intensity says so.
USDCAD week – week sequence terminated
Someone remarked that CAD is very strong. Was. Not anymore since that previous 14 weeks of week – week lower highs in the USDCAD pair has been terminated as of end of last week. Could be weakened. Could be sideways.
SATS a bright spot on SGX
Blue chip SATS (ticker: S58) is truly a bright spot on the Singapore stock market. Not only is it’s uptrend intact, it is making new 52-week highs which is amazing in this bear market. For those using MACD, note the PD setup and S2 on moving averages.