The STI outperforming most other bourses with it opening at the gap support, filling it all up without breaking to close higher then yesterday. Excellent! All gaps are now filled with momentum set to hit the first resistance at 2650. As far how as how this goes, nothing has changed so you can refer to the write ups below.

Went into noble at 2.14 as it retested the breakout level right after lunch. I like this as it came with volume and the upmove came despite the very weak morning sentiment. Not many overhead resistances at all. What is noteworthy is that commodities and mid-small caps tend to rally very hard into the final leg of the upmove. Such signs remain.

Swissco also did quite well despite Swiber being held for a trading halt. Another breakout case out of major resisitance and is good enough for me for a trade. 70c also happens to be 100MA resistance and now turn support. Next fibonacci resistance levels are at 75c, 80c and 82c which is the region where i will take profit at.

Hang on tight for this leg up for there isn’t a lot of meat left, unlike the US markets. Remember that while the opening might be influenced by the US market’s closing prices, the intraday movement tends to mirror the HSI (which closed in the red today after paring losses mirroring the leg down on SSE). Very weak SSE which may not have gap filled its resistance yet. SSE however tends to move more in tandem with government policies than the economy so that is one thing to note.