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Thursday, January 31, 2019

Hang Seng Index - The current rally could be peaking soon .

Hang Seng Index -  The current rally could be peaking soon . Today the prices ran into the overhead resisstance of both RHO Trendline and the 200 Days MA  suggesting this rally could run out of steam soon. Prices briefly went above the 28,000 mark . A fallback to 26700 could be on the cards.
All posts and charts are for educational and illustration purposes only
Monday, January 28, 2019

GSS Energy - Renewed buying interest from BBs

GSS Energy looks bullish. Big Boys are supporting as we see renewed buying interest today though the stock is due for selling from the high volume day a week ago, Next target 0.136, cut loss 0.119.


All posts and charts are for educational and illustration purposes only

Gold - Holding firm above 200 day moving average

Gold - Holding up firmly above the 200 day moving average. Key resistance at 1305. If it can break an stay above 1305, it will likely head for its next target at 1347 and 1410 respectively.


All posts and charts are for educational and illustration purposes only
Friday, January 25, 2019

Next Market Moving Event : US - China Trade Talk On 30-31 Jan – Will There Be A Deal?

Donald Trump’s approval rating has fallen to 41%. This is because the longest US federal government shutdown in history has started to make an impact on the economy with an estimated 800,000 workers not being paid and governments contractors payments delayed. Donald knows he needs to win back the public confidence if he wants to seek an re-election into the second term in office.



On the second summit between Trump and North Korean leader Kim Jong-un will be held late next month. Trump wants to register a “win” in this  area where all of the previous presidents have failed.
Trump knows that Kim is not going to agree to a deal based on the demands based on conditions to
shuts down all its existing nuclear facilities based on advise of national security hawks such as John Bolton. This is why Trump needs the support of Xi to try to come up with some formula which bridges the current impasse.

Desperate to win back public confidence, needing the support of Xi on the Korean De-nuclearisation With the world and US economy heading in recession, street wise Donald knows he has messed up and needs a trade deal with China.

Last week The Wall Street Journal’s report that US Treasury Secretary Steven Mnuchin favours removing the existing tariffs introduced last year which support this view that Donald wants a deal with China. The proposed deal hopes to soften China position  in areas such as intellectual property and market access.

Meanwhile opposition voices against China stealing of Intellectual Property rights are getting louder,
last Wednesday lawmakers introduced bills that would ban the sale of US chips or other components to Huawei, ZTE or other Chinese telecom companies that “are in violation of the export control of the United States”. President Xi knows that he has to do a deal while Trump is still in office because future US leaders may be more hostile towards China. China is correct to offer an increase in imports from America by a combined value of more than US$1tn over the next six years, seeking to reduce its trade surplus with the US to zero by 2024.

It makes sense to assume a deal will be done and the existing tariffs will be removed, as well as the threatened tariffs not implemented. This is why the stock market will continue to hold up until 30-31 January.

Still, this blog's base case is that the current rally, which start started after Christmas has helped Dow Jones recover 60% since it hit a low on Boxing Day, is a counter trend rally in a broader Bear Market that was ignited on the news of Trade War 90 days Truce and the prospect of relaxing monetary policies.






All posts and charts are for educational and illustration purposes only
Monday, January 21, 2019

DOW - Approaching Sell Zone .

Dow Jones - Approaching Sell Zone between 24860 and 25325. It is also approaching the 200 days Moving Average Overhead Resistance . The sell zone also marks a 60% retracement of the Dec low. This blog has maintained that the 1Q19 rally a rebound within a broader bear market . The Dow should retest its Dec low in the 2Q19.
All posts and charts are for educational and illustration purposes only
Tuesday, January 15, 2019

Best World - 3rd attempt at breakout failed

Best world made third attempt at breaking 2.79, but failed. Next support at 2.54, a break below this level will be short term bearish.


All posts and charts are for educational and illustration purposes only
Thursday, January 10, 2019

Ezion - Next Move could be down

We see similar price action for Ezion as in November 2018, when there was a spike in volume for a day to push up the price, but no follow-up volume in the subsequent days. Could history repeat itself?


All posts and charts are for educational and illustration purposes only
Tuesday, January 8, 2019

Netflix - rebound could be ending


Netflix at 321 will complete the its rebound and could pull back to 292 and 272.



All posts and charts are for educational and illustration purposes only
Monday, January 7, 2019

Silverlake Axis - Bearish Bar Emerged

Company announced it clinched 8 new contracts in the last 6 months, and signed services contract with AEON Vietnam. These are good news that should see the price go up, but instead the BB took the opportunity to unload the stock. The price action looks bearish. Any break below 0.40 could see the price accelerate to 0.345 and 0.295.


All posts and charts are for educational and illustration purposes only
Thursday, January 3, 2019

Best World - First Bearish Bar Emerged

First bearish bar emerged for Best World today. Could have topped in the short term. Next target 2.58 and 2.45.


All posts and charts are for educational and illustration purposes only

HK 981 Semiconductor Manufacturing


On 7 Dec 2018 at the market outlook, Sifu called for a short on the stock at 7.30. Today, it is trading at 6.36, and heading for the next support at 6.25. It could test its October low 5.95.


All posts and charts are for educational and illustration purposes only