Let’s take a look to see if my earlier expectations have changed.
Actually nothing much has changed. What I am beginning to look for is if the buy signals are beginning to fail. There is a gap support located below as seen and it is normal for the gap to be filled. So there is a lil more to go on the downside, at least intraday. Do take note of the double top M formation that seems to be forming. Calculations show it is quite possible for that to break for a new high. This view changes if 2175 and 2155 fails to hold.. thereby forming the M formation.
In summary -
- Do I expect 2400 to crack? No. Hover around, perhaps. More fast rallies? Maybe one or two more. But like how the DOW is being set up, indicators all show bearish divergences.
- Do I expect broad based rally? Possibly. One last one. However volume could probably be lower, which contributes to the formation of bearish divergences. At the moment I do not see a very clear one yet.
I will definitely be distributing along the way up. If the immediate support does not hold I will have to keep a close watch indeed.In the short term I do expect the bullish momentum to take a lil break for a reversal pattern (not retracement).
SGX.. no bloody buy signals at all. HAH! Short term uptrend is kept by the downtrend resistance forming a very small and insignificant symmetric triangle. I will probably consider this too small to be a sym triangle actually but there is a slight bias for it to break on the upside. That view changes if the downward move comes with volume and takes out the uptrend support line and 20MA. No divergences observed.


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Checking in on your website, bro. Still doing good work here. Thought you said you’re not very active anymore. Keep going!
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