SIMSCI Futures View ended 02-June-2006

This is daily chart of SIMSCI futures.There was a rebound last friday 02-June-2006. However, SIMSCI futures off from the day high of 288.5 and closed below previous day's high. It continuously moving within the downtrend channel. And in fact, immediate resistance appears to be at 289.5.
From directional analysis, sentiment is negative, however it has yet to reach extreme bearish state. It is likely to continue moving within the downtrend channel. No reversal sign of current trend is observed at this point of time.

I will be writing specific day trading opportunity in Better-Trading Blog.

SIMSCI view ended 31-May-2006

Before the start of a new trading day, I am looking at daily chart of daily chart of SIMSCI futures. This is daily chart ended 31-May-2006, a negative month for SG market. A gap down yesterday just fulfill my channel view. SIMSCI is consistently moving within the downtrend channel. I see immediate support at 277 area while immediate resistance is found at 290 area.
Overnight rebound at U.S market does not give me a strong bullish feeling yet. It might lift up SIMSCI today, however, the strenght is in doubt.

I will be writting specific trading journal for Better Trading Blog.