As highlighted earlier at 7:15am before market opened that the STI has hit a supply area and it's due to selling today, the market indeed experienced a sell down earlier. Most of the blue chips like the banks all came down and indeed, most of the oil stocks gap up instead and held up well as predicted in my morning outlook! I don't know how much more accurate can that be. Most will say that the Dow moved up +200 points last evening and the market should gap up today but it was the reverse where it got sold down today.
My before market analysis was once again a spot on highlight to my years of prediction in the market. The answer or the trick to my prediction was because STI has hit a supply zone so no matter what the Dow did, it will still sell down instead of moving higher. Click below to read my morning post and register below to come for my stock market tips and alerts event next Tuesday where I will be giving out free tips!
http://stockmarketmindgames.blogspot.com/2018/10/singapore-straits-times-index-supply.html
Ronald K - Market Psychologist - A Stock Market Opportunist
