- The Recent High is at 3235, which is 4 Trading days ago. This show that fund managers/big boys stop buying higher for a while.
- The short term critical support should be somewhere at 3200, which some people will call it the psychological support
- The prior trend before the Recent High is an Uptrend, we saw STI forming multiple daily New High since 8 Oct.
- When we are trending up, retail player are worrying about the market. Now STI stop moving, they get even worrier (Not become a warrior).
- STI chart is looking similar to S&P, means there is some correlation. Most likely we are waiting for them to move higher then we follow.
- BlueChip and Mid cap mostly still strong. KepCorp, F&N, SPH, Kepland, SIA engg still not turning down, means BB still not selling. Then seems bullish on the market.
- If STI break the support at 3200, means big boys selling. We should follow them to sell first, If STI break 3235, means big boys are buying, we should buy more if that happen. If STI still stay within the zone, we shall stay put with what ever we holding right now, dont move.
Untold Secret of CFD Trading - by Andy Yew
6th November 2013 (Wednesday), 6.45pm – 9.15pm
Venue: Crystal Room, 3 Shan Road, Phillip Investor Hub
