I believe rotation play in action.

From DMG:

Technical View – Global Indices

Straits Times Index: Advocate selling on rallies,

Shanghai Composite Index: Selling pressure to be limited to 2,200 – 2,250,

Dow Jones Industrial Average: Still bearish – 100-day moving average a tough nut to crack,

S&P 500 Index: Targeting the 780 level,

Hang Seng Index: Price action to turn bearish

But if closing down on high volume, tat is extremely bearish!!, u  knowwww...

Even if close up, still cautious, possibly bull trap, would not chase after stocks as chart shows bearish divergence between price action & stoch & market extremely overbought, continuous up 5 straight weeks without meaningful correction 

Would rather wait for pullback. Akan Datang man.

I'm sure there are plentiful opportunities as this is a trading market

Today’s Focus

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less from here Expect stocks to start the session lower on weaker-thanexpected Singapore 1Q GDP number but there is no change our view for the STI to head for 2140 (200-day exponential moving average currently at 2052), likely in the weeks ahead.

Key blue chip stocks should trend to their 200-day moving averages by then. We maintain a buy-on-pullback strategy.

Thus far, 3 Asian bourses: SSEC, KOSPI and TWII have risen above their 200-day EMA.

Singapore’s 1Q GDP fell 11.5% y-o-y. FY GDP contraction has been revised lower from 2-5% to 6-9%. While the 1Q GDP contraction was worse than consensus of 8.8% (Reuters poll) and also worse than our economist expectation of 8.1%, it also strengthens the belief that 1Q GDP is the ‘darkest quarter’ and that the local economy should improve from here. Stock market tends to bottom out during the worst GDP contraction quarter, which is in line with how stocks have been performing in the past 5 weeks. Singapore is an export dependent economy. We think what is more important is US 1Q GDP numbers due in 2 week’s time. US retail sales for March is on tap today (consensus 0.3% rise). Because of positive retail sales in Jan and Feb, our economist expects US 1Q GDP to decline by only 0.5% compared to the 6.3% drop in 4Q08 should March retail sales come in within expectations. 2Q GDP should swing into a growth of 1.5% growth.

Non-oil domestic exports fell 17% y-o-y in March, a slower pace of decline than a 23.7% drop in February and lower than market’s estimate of a 25.3% fall. On a m-o-m basis, NODX in March increased by 11%. In line with our expectation, the MAS has announced that it will re-center its exchange rate policy band to the prevailing level of the SGD NEER amid the weaker growth outlook and modest inflationary risks in the medium term. In addition, the authority will be maintaining the zero percent appreciation stance and the width of the band will remain unchanged.STI 2140 view intact despite worse than expected 1Q GDP contraction because economy expected to contract

Oopps!!! Repost, dun know why gets jumbled up.

From DMG:

Technical View – Global Indices

Straits Times Index: Advocate selling on rallies, Shanghai Composite

Index: Selling pressure to be limited to 2,200 – 2,250, Dow Jones

Industrial Average: Still bearish – 100-day moving average a tough nut

to crack, S&P 500 Index: Targeting the 780 level, Hang Seng Index:

Price action to turn bearish