Philip Chua Business Blog

Posts Tagged ‘steam’

Signs that the U.S. recovery gained steam in the final quarter of 2009 abounded this week. First, data on retail sales showed that the all important U.S. consumer continued to rebound in November. The U.S. economy is also getting some much needed support from the economic recovery abroad, which along…

THE closure of the Hong Kong market for a public holiday yesterday meant that the local market was mainly left to run on its own steam and in this regard, it turned in a disappointing performance – stocks mainly drifted in low volume throughout the day. The Straits Times Index’s movements displayed all the hallmarks of a market unsure of what to do next while lacking in direction when it traded wi… more

Bouncing from 78.6% Fibonacci retracement support, quickly correcting the oversold situation. Hopefully the rally will run out of steam here, first resistance around 92.00. However, holiday-thin conditions this week mean we cannot rule out a fairly large ‘extension’ higher. Worryingly, at-the-money implied volatility has not increased, holding around the average…

THE local bourse was raring to go yesterday morning, but its bright start to the week crumbled rapidly under enormous selling pressure in Shanghai, which plunged deeply into the red.
After opening at a high of 2,667.82 points, the Straits Times Index (STI) quickly lost steam, sinking into negative territory within half an hour of trading. It never made it back to the black all day.
By the close of… more

Forex markets have decoupled to some extent from stock markets: Only at the beginning of the week were they able to follow surging stocks. EUR-USD rose to 1.4277, but then ran out of steam even as the Dax scaled new highs in the second half of the week, reaching the…