Friday, September 14, 2018

DBS - Short Term Bearish Indicator

DBS gap up today with some strong overnight bullish performance from the Dow. At one glance, the market looks bullish but because it gap up with rising price, I would give it a bearish view just because the retailers were chasing and the sellers might look to lock in some profits. The Top Volume earlier in the morning looks bullish with many stocks rising but however there was a sudden drop where profit taking took place as shown in the DBS chart. I am not so sure on the pennies now but am more focused on the blue chips. See how it pans out later.

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Ronald K - Market Psychologist - A Stock Market Opportunist