Weekly Market Outlook: Oct 15-19

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2012Oct Straits Times 

Last week, we saw a strong bullish bar breakout of the range, however this week ended with a strong bearish bar back into the range. This shows the strength of the bears, and bulls will not be looking to buy until prices have dropped to the area of the green horizontal line. If prices fall through, we will see a double top; if prices hold, we will see more range trading. A key event is the EU Summit this Thursday, where Spain may or may not request for a bailout, and this will have a significant impact on the sentiment.

Highlights from “The Synapse Forum”

Screen Shot 2012 10 15 At 5.01.37 AM

The falling apple is acting as a drag on the NASDAQ, and hence the US markets in general. The US markets are likely to be ranging or bearish.

Screen Shot 2012 10 15 At 4.40.27 AM

Although the general market is bearish, the commodity stocks are showing signs of bullishness, such as this chart of Noble. 

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