Ok, so STI ended on a higher closing and did not react accordingly to what i anticipate. Now, it seems like STI is on a steroid where there is no stopping of this ferocious bull move. The continuous up move has certainly caused malaise on my analysis and how i view the overall market. Do i think that the uptrend will continue? I don't know, but i am not betting on the long or short side because either side is equally risky for trading at the moment.
Looking at the whole campaign, the circled area tells me that this upmove is squeezing shortists who bet for a down move when resistance was reached. It gives me an indication that the bull move may not be over yet, however this could be a bear trap. I got a sensual feeling STI is near a market high and exchange insiders are heavily involved in selling stock to the public. They therefore wished to avoid panic selling at a time when they wanted public buying.
Something is brewing in STI. The dreadfully low volume on the rally is not natural. It's eerie and scary. If you are still long, take extra precaution.
Ronald K
