As predicted yesterday afternoon, the STI had a morning sell down after opening bell. However from the chart, there was tell tale signs that this was going to happen. On the circled minute chart, there was a region where sellers were pilling up and how do we know? Can you spot that buying was getting weaker as it trended higher? More important clue was it reached a zone of doldrum where sellers would look to book profits.
http://stockmarketmindgames.blogspot.sg/2016/02/singapore-straits-times-index-tomorrows.html
The gap down today only presents uncertainty and unprecedented risks of more sell down to come in the short to mid term. If you are interested to know how to spot doldrum zones, don't miss out this coming Friday's workshop. I will be sharing for FREE. Register below.
Ronald K - Market Psychologist - A Stock Market Opportunist
