Monday brief

Was it hot or was it not? Zero strength to sustain a rally indeed on the STI and I wonder who’s been buying right at the top on opening. 1680 was tested again which held beautifully today! What will tomorrow bring? The US markets have largely factored in the stimulus package and they are dead sure it will be passed. If it doesn’t, wham! After this whole saga is over, corporate earnings are gonna come into play again.

Upside limit for STI remains at 1780. Support at 1680 which I honestly do not expect to hold for long.

SIA totally confirmed the crack down today. 2 days of dumping before results come out tomorrow. This will be interesting to watch. DBS has also cracked. Looks like a good opportunity to enter on a lil rebound. Take a peek at the STI ETFs available on phillips CFD if the STI cracks 1680 with confirmation.

Beware of possible distribution, which eventually leads to the downside once buying dries up. I think we should have a clearer picture this week.  I was expecting a rebound last week into Friday and this week we’ll sorta figure if it had momentum, or it turns out to be a bull trap again.

Trade safe!

PS : is everyone sick? The whole office is sick. Now I am sick with the sniffles too. DAMN!