Alliance Minerals

Market keenly awaits news of deals with the Off-Takers which the company is in advance stage of negotiation. Technically it broke above all resistance levels except the last one at 0.435 which is also its all time high. The stock will go into uncharted territory if it breaks above this level. At today's close of 0.395, its market cap is 180m.

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Alliance Minerals

On 21 Mar when Alliance was 0.26 this blog said that Alliance could hit 0.36 on more positive news. Today it reached 0.36 which its this year's high on a blow out volume. This blog believe it's time for Alliance to take a short break and could correct to 0.30.

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Why Is Trump In a Rush To Push Through The Reformed Healthcare Bill?

Trump failed to close the deal within his party on time for the planned Thursday healthcare vote inspite of much wheeling and dealing with  Republican lawmakers . The vote has been seen by financial markets as a crucial test of Trump's ability to work with Congress to deliver on his other priorities, such as tax cuts and infrastructure spending.

Even if their replacement plan does eventually get approval from the House, the legislation faces a potentially tough fight in the Republican-controlled Senate.

The House and Senate had hoped to deliver a new healthcare bill to Trump by April 10, when Congress is scheduled to begin a two-week spring break. The deal needs to be approved before Congress go for their  long break. Trump appears to understand this which is why he conducted closed-door meeting with

House of Representatives Republicans on Tuesday and Wednesay  to lobby support  for the Healthcare reform bill in order to avoid a significant delay in implementing tax reform.

For the the short term, the markets is concerned whether the Trump administration’s tax cutting plans get delayed . If the Healthcare reform bill is delayed beyond 10 April, the market could sell down  in view of the delay in tax reform.

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STI

Showing signs of breaking down. Any break below 3115 could take the index down to 3050.

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Dow

On 28 Feb this blog said that Dow could be close to its peak and on 2 Mar Dow had in fact hit its highest point at 21180. Dow fell 237 pts to 20668 on Tuesday,  its biggest decline since Trump election. Going forward Dow will continue to trend downwards with supports at  20275, 20090, 19900, 19723 and 19170. Traders are beginning to doubt Trump's ability to fulfill his election promises and they will be watching Trump's attempt at congress to repeal Obamacare. Any mishaps in Obamacare repeal effort will cause more selling in the days ahead. Traders also know that the  introduction of Border Tax and Infrastructure stimulus will have to wait for the outcome  of Obamacare repeal. Traders will likely run out of patience and it could trigger more selling.

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Alliance Minerals

Heading skyward on lithium play. Company last reported promising presence of high grade lithium deposit drove the price from 0.2 to 0.245. Today the price broke the last high of 0.245. The next catalyst for this stock will be news of off take deals size. A sizeable off take deal will give analyst some tangible revenue base to value this stock and kick off the lithium product process. A big pre order off take contract can drive the price to 0.36.

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US Dollar Index

The Dollar Index pulled back from 104 to 100 after Fed reiterated 3 hikes for this year on 15 Mar. However, this blog believe the medium term target of 106 remains intact following Nov 2016 breakout from 2015-2016 trading range. However a break down below 99 would imply that the breakout was not genuine.

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Russell and S&P - Signs of impending US Market Correction

On 28 Feb, this blog warned of Dow peaking from analysis of Dow's trend cycle. Perhaps another sign of impending correction is seen on performance the Russell 2000 index of small cap stocks. They have stopped outperforming the S&P, the Russell index has risen 1.9% so far in 2017 compared to 6.5% gain in S&P.

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Noble

Company announced 10 to 1 share consolidation frightened traders into a knee jerk sellout! At the end of the day, it looks like traders got tricked, the BB scooped up the share on weakness and closed it at today high. The short term Price Action is pointing to more upside in the short term. It will be met with resistance from 0.22 to 0.225. A convincing break above 0.225 will signal strong underlying strength and upside to 0.255.

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Robin's Master the Market Course - Last Call!

Robin's Master the Market course will be commencing this Friday! Contact Andy Tan from Cyberquote at 65050192, or email andytanst@cyberquote.com.sg to sign up!

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Robin Won 5 Awards at Phillip Securities Awards Night 2017!

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Market Moving Event this Week

·         The BOJ is set to keep its rates and yield-curve policy unchanged in its policy decision on Thursday

·         The Netherlands’ election takes place March 15 amid a growing diplomatic spat with Turkey.

·         FOMC Meets  from 14 to 15 Mar

The commentary of the dot plot could drive a short-term movement in the market, the odds could  favor more dots, favoring more rate hikes, the dollar could weaken early in the week due to technical selling, but if it turns out to be a more  hawkish hike and I think the market is underestimating the hawkishness . It could trigger a market correction.

US debt ceiling expires on 15 Mar

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SGX Live Trading Monday with Robin Ho - 6 March 17

Every 3 months I receive invitation from SGX to conduct a live trading session where I would trade with my own money in front of about 200 people. The best outcome would be a profitable intra day trade i.e. 0900 to 1130 which is the duration of the seminar. I would typically trade Hang Seng future because of its volatility. This is probably the 15th time I have traded live in SGX and I have only lost on one occasion. Yesterday I made money again but that's not the important, because the objective is to drive home the point that trading is not a gamble. It is about having a well prepared trade plan and trading the plan. I showed the crowd how I use my proprietary Price action strategy which uses only Price , Volume and psychology of trading to profit from the market in a very short time frame. It was an eye opener for many who witnessed how live prices moved precisely as predicted. My special appreciation to the organizer SGX and those who took special leave to attend the session.

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Master The Markets Course (17 March to 22 March)

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STI

Sign of deteriorating breadth and momentum but index is hanging inside the uptrend channel. Watch the key support at 3100. A break below this level may trigger a major correction bringing the index down to 3030. If index can hold above 3100 the STI uptrend will continue with the next target at 3170.

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