Stock Market Indices Analysis and Updates

US Dow Jones Industrial Average (6,763.29): I have recently comment that the US is heading towards 6,000 points. Click here to read the analysis. In the longer term, it may even go as low as 5,000 points.

Kuala Lumpur Composite Index (868.74) I have made many comments on this market where I live in. It has a long term target of 500 to 550 points. For now, my guess is that the KLCI may test 800. Click here for the analysis.

Singapore FT Straits Times Index (1,528.51): In my previous article on 2 February, I have mentioned that the STI is heading towards 1,600 points. Now that it is already there, I need to analyze further. The STI may start to test the 1,470 points low. The FTSTI has resumed its down trend as the short term 30 day average which was up in the past 2 months has started to decline. The short to long term averages are declining now. The momentum indicators like RSI have declined below the 50 level. The benchmark index is set to test the 1473.77 points low which is a five and a half years low. It may also even test the 10 years low at 1,200 points if there are no changes in the current economic and financial crisis.



Hong Kong Hang Seng Index (12,033.88): My last article was on 20 January 2009 and mentioned that the HSI has a technical target of 8,800 points. The short term 30-day moving average has also declined since and signaled a continuation in the long term down trend. Despite an increasing bullish momentum as indicated by the RSI indicator, is still can’t past through the 50% mark. With weak bullish support and weakening fundamental data, the HSI is expected to continue to fall further to the next support level at 10,600 points.

Japan Nikkei 225 (7,229.72): My last analysis for this market was on 19 January 2009. I have mentioned that a break below the crucial support level may send the Nikkei to a technical target of 5,500 points. Technical indicators have started to show bearish momentum from neutral. The crucial support level is 7,000 points, which is where the index is heading now. A break below this level means that the index has made a new 26-year low.

Thailand SET Index (413.09): My last analysis was on 20 January 2009. I mentioned that the SETI is expected to move sdeways and if the SETI breaks below the support line of 380, the down trend may resume to test the next support level at 320 points. The SETI managed to hold between the trading range mentioned in my last article but a strong momentum downwards has just started after heavy sell down in the US and Europe market.

Vietnam NV Index (241.46): The VNI is currently at 4 years low. My last article was on January 14 where I mentioned that the VNI is in a weak down trend. The support at 284 points wasn't able to hold the selling pressure and price continues to dip. Next Support level is at 220 points and if still this support level can't hold we are looking at the support level at 130, which is is the lowest since October 2000.

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Article contributed by Private Trader, Market Expert, Trading Coach and Chief Market Strategist of Nextview, Mr. Benny Lee. For more articles and commentaries from Benny, click HERE.

Come and visit Benny Lee at ATIC Kuala Lumpur on the 14th and 15th of March 2009