The key question is what will be the outlook for this week?
If we based on the past weekly records, every week when Dow ended with a black candle, Hang Seng and STI followed without fail.
If we look at the pattern of white and black candle formation, very likely the Dow will be a black this week. Hang Seng could be a white candle because the pattern seems to be 3 weeks white follow by black.
STI is 50-50 as usual without definate bearing.
Point to note : Dow last week broke resistance has shown the strength, this could be the cause for strong rally today.
My trading trading strategy : Counters that I hold will be on hold. Refrain from new entry...bec. this week or next latest could be a pull back.
Because of strong bull and STI broke resistance, many counters are at the verge of breaking formation or resistance.
ReplyDeleteAgressive player will see that as opportunities to attack.
For conservative play, the bearish divergence signal are still threatening in all indexes. This is not the best time to attack the market. Would rather wait for more certainty without too much risk. The upside can be limited !
Strong US bull continue last night with Dow up 136 pts. but failed to lure the Asia market. STI open with profit taking and bring the market down. Meaning that the real investors are still awaiting...current players are short term speculation for quick bucks !
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