Brief outlook

Good morning all.

Just wanna update some changes in my positions. I closed most open positions yesterday, leaving the SIA short on. Rationale is, STI has gap filled, and rebounded off it, confirming the gap support. This is bullish. Refer to my earlier charts and view the updated ones here with the same fibonacci lines. DJIA has also confirmed its support.

Immediate term appears bullish, but I am not going long. Near term, still looks like a wash down to re-test lows is the works. Reason why I close is due to time factors. Better to enter when it happens, rather than hold the position and watch the finance charges erode the profits away. Consolidation periods may take awhile to form and can be volatile. Watch for 1780 as resistance still. Calculations show this could break out and head towards the next resistance  but after that happens, the certainty of a wash out to clear these bulls becomes stronger.

My TR is heading for ICT while I have been very busy with other work of late so it is a good chance for me to reset my portfolio and take a short break and watch the market movements from afar. i will post again when there are significant movements that may suggest something in the works.

Meantime, have a great remaining week!