I must admit that i made some small losses during this rally based on my predictions on the past few posts. However, I also made some good gains like SGX and some others like Capitaland which i did not blog about. This week, i witnessed something very unusual. There wasn't any reaction for the public to get in. Looking at the whole campaign, I am getting suspicious each day. One reason could be because big players' account were being filled and they are planning to raise the price to certain price level before taking it down. I expect the market to react which would create an alibi for a more sustain bull move. Since it did not, i am raising my bearishness view to 80%.
For next week's action plan, look at the chart above. The midterm trend is still down and STI is reaching a resistance level circled in oval where all the shorting took place previously. When it reaches that level, i will look for big blocks activity to either take the market down or bring the market higher. For now, we wait and watch.
Ronald K
