Tomorrow is the last chance to take up position! My eyes will be the closing candle on STI's weekly chart. Remember on Sunday night i posted, this week's closing is more important than the intra-week swing? Well indeed the market looks supported. Most of the stocks look damn oversold and we should head higher. But it also doesn't stop the market from falling further before the rebound takes place. Given that today we were not able to close higher than opening means that the market are fearful of last week's repeat where market tanked after the big rally. This is actually good because it means there is little confidence left. Market will not anyhow rally like a mad bull. We all should know by now, a mad rally doesn't last. Rather, we might have very good and defined
technical levels to trade.
Let us see if the inverted hammer on index charts will come with
candlestick confirmation.
Results from tonight's
XPertTrader Screening:
Asia Env: Surprisingly strong in a weak market
Range Trade for Comfort?
Palm oil related stocks staged a comeback late in the day. Was it shortists covering? Anyway,
bullish harami formed.
Tempted to short this fella. Based on M.A, today's closing is bearish. Support should be Mar's Low.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
