The SET index closed near the 52-week high.

The SET index finally broke out the 1550 level and now retests the 1560 head resistance (the upper resistance level of the rising wedge). Again, just a reminder, a 1560 breakout will take the SET index to the 1607 level. Based upon the thesis that there are massive liquidity injections and deleveraging around the globe, Thai economic growth will be accelerating in 2015 and the Thai Baht is strengthening, my personal opinion is that the 1600-1625 is already in the cards. 

In the case of a SET pull back for some reason, the supports are at ~1509 (50-Day Moving Average), ~1456 (100-Day Moving Average) and ~1440 (lower support level of the wedge).

The crude oil prices (both Brent and WTIC) continue their downslide due to over supply and a strong US dollar. It is possible that the crude prices could drop another 5% to 10% due to a continuing rising US dollar and demand destruction. Just a reminder, cheap fuel costs are good for consumer, transportation and financial stocks, especially for those financial companies that issue car loans. 

The central bankers meeting in Jackson Hole, Wyo. USA was a non-event. No fireworks and no hand grenade throwing! The European Central Bank President, Mario Draghi, did not say much about the troubled EU economy.