Market Technician

Xiaomi (1810) We shared that Xiaomi have broke out of its Accumulation zone and is entering the Mark Up phase. Price continues to mark up as analysed. Congrats if you have followed the trade.  Accumulation Phase is a zone where supply exhaust and demand overtake the dominance. Also a zone where smart money comes into the market and pick up the stock at a low price. A break out from this zone will expect to see continuation of price mark up untill supply comes in. Understanding the Wyckoff's Accumulation Phase  helps individuals trade alongside with smart money.  Disclaimer applies.

CNMC Gold (5TP) We shared that the selling that started in Aug 2019 was weak and expect price to rebound from key support level. Price traded inline with our analysis as above. We noted that the selling was weak because we did not sight selling with increasing volume, a bearish characteristic as stated in Wyckoff Method. Price thereafter halted at our analysed S$0.245 level, broke above our the downtrend line and traded back towards our high volume node at S$0.28. Congrats if you have followed the trade. We now expect the stock to trade in Range fashion and may see price trading higher if more buying volume (Bullish Character) comes in. Understand market demand and supply and trade in line with market by observing some of Wyckoff key principles  such as Bullish/Bearish Character at our next Course Preview at SGX Auditorium. Disclaimer applies.

CNMC Close watch on gold mining counters such as CNMC in view of current resilient gold price. Using our Wyckoff technical tools , the stock's recent selling looks more of profit taking than sell off in view of the bullish character observed during the price mark down. Momentum tool MACD and fund flow tool FFI have seen technical improvements. As price resting at key support level of S$0.245, in view of Fibo level 0.618%, low volume node and resistance-turned-support level, there is technical evidence of price supported at current level. Breakout of downtrend line will be our trigger. Disclaimer applies.

Xiaomi (HK:1810) Xiaomi stock price jumped across the creek as the company announced the launched its low cost 5G phone today. Related Article Today's action is different from previous rallies as price  broke above a significant resistance level that we call   The Creek , a resistance level within the accumulation set-up. With this breakout, we expect stock price to move into Mark Up phase  where demand>Supply momentum is expected to continue. Above chart is a summarised illustration of identifying characteristics of an Accumulation Phase. Understanding the characteristics helps investors lower the risk of catching the falling knife. Join us  this weekend, 14-15 December 2019 at SGX academy to l earn the Richard Wyckoff Method in identify characteristics  of demand and supply on the charts and price cycle.  Click HERE for more info.  The Richard Wyckoff Method Course is SkillsFuture credit and IBS funding approved. Blog Disclaimer applies. 

SPX Near Term Outlook Shared with our telegram community on a mid week update of S&P. SPX broke our short term mark up indicator (15D SMA). Volume node, which we use, is suggesting 1st support at 3085 level and next at 3000. Moving forward SPX needs to trade above 15D SMA for bull to continue.