Here is the chart for celestial:
As indicated by the trendline, it has been touching back the line and bouncing up after each touch. Also, looking at the 20MA (red), it has touch that on wednesday and closed above that. This is 1 good indicator. Any counter that charged up must come back and touch the 20MA, if not, the greater it shoots up, the harder it's going to fall back.
2nd indicator to see, is the stochastics. Take note that when I enter the market on wednesday, stochastics has already falled below 50%. Why you should not buy before that, as indicated, stochastics are at 80% for quite a few days and that was an indicator that the counter has been quite bullish for that period and it is not good to enter as it will go tired and run down again as indicated.
The 3rd indicator was the surge up in china stocks in the past few days. Not only in STI, in the US market as well, quite a number of china stocks has suddenly surge up super high! In STI, it can be seen from YZJ, which surge non stop for the past 3 days! From $1.81 to $2.23 today, that's a whooping 42cents or 23% increase! Take note that the highest today was at $2.28.
As for celestial, I believe monday will be another surge up for it, at least to $1.55, which hits its 200MA resistance. From the charts, the 20MA will be touching the 50MA as well. High possibility for a super surge as well at that point. As far as I feel, celestial should be able to recover to what it had been before the great drop which is around $1.72 - $1.74.
Yen dollar against USD: 114.88-114.89. Still relative low and dangerous, but still quite ok for the time being. 112 would be the danger point.
While oil is at $83 as of now, it is truely quite expensive.. Since the market is quite immune to the subprime news, inflation and leading to recession may be the next horrible news, but it won't be that fast, since the time lag will not be felt that fast.
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