Market finished strongly on Friday boosted by Dow's superior closing. Bearish chart formations on indices are still intact after last week and i shall trade with caution. With the Fed rate cut, market may have factored in the rise. Get ready for impact. Hmmm... what should i be doing? There are a couple of good signals from tonight's XPertTrader screening, but given the position of where STI is, i prefer to sell. I be looking forward to harvest my rewards vested 2 weeks ago. My tactic now will be hit and run. Meaning? Buy at support, Sell at resistance.
But i also cannot be overly cautious and miss out the good chances. Judging from my experience from tape reading, i don't smell any bear as yet. Let's see how Monday plays out. Then perhaps tomorrow night i can share more observations.
Agri stocks look like diamond pattern forming.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
