Many gaps in DBS as every time it gap down, it will reverse and climb up slowly while the reverse is also true, when it gap up, it will slowly trend down. Last evening with 1000 points in the Dow Jones, the banks were mostly gap up and what makes this more amazing was after DBS took a breather, it then climbed up another 20 cents to reach a high of 24.85 before taking a simmer back to 23.63. In the 5 minute chart, there were some fake breakout setups before the simmer started and hence it's wise not to chase at gap ups. My student just won $1000 longing OCBC yesterday and sold it off today at 11.17. I am proud of him of daring to long near bottom yesterday.
I also studied the Dow chart. Should the market continue to sell off, the next floor would be 18839 level. The demand zone is there and it should be a strong one. Looking how the Dow would perform tonight and see if the sellers continue to dominate.
Ronald K -
Market Psychologist -
A Stock Market Opportunist
