The S&P 500 trended higher last evening as predicted on my blog yesterday @ 9:31am LIVE! There was indeed some flushing but more importantly, the buyers were very strong and determined to force the index higher ahead of some major news announcement I believe. At 9:31am in the morning yesterday while the futures was trading, in fact, because of the mini selling in the 5 min chart (click and read below),
it gave me a clue that the buyers were trying to push prices down so that they could absorb more which I believe was the deciding factor that made me gave a bullish call. The 15 min chart gave a clearer indication with lesser noise and from there on, it was poised for a rebound till 5am during closing hours. If one were to long the index yesterday morning, she would have made some good returns for intraday trading. While the Singapore market is still unsure of it's next move, I believe S&P 500 is a better choice for now. If you are intersted in US stocks/index, do join me next Tuesday to find out more.
Ronald K - Market Psychologist - A Stock Market Opportunist