Divergence among the indices

The US market has dropped after breaking new highs, while our STI has actually managed to keep on pressing higher, this is a divergence between our markets.

Superficially, there’s no telling if the US markets are just doing a temporary pull back or are markets heading for a congestion period.

However, the STI uptrend is still in place, but you can see it has been driving higher with much difficulty.

So be watchful and manage your longs.

I believe part of what we should be watching, are the actions on the US front.

You can see the chart above for a view of the US markets alongside our STI.

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STI

The STI made some tests of the 3150 level, held each time and is still hovering near the highs of 3180s.

Be patient with your long positions.

STI still in uptrend.

Hi-P

It’s slowly moving up

Be patient and follow system.

Hi-P slowly moving up

GLP

GLP is still waiting for the board’s decision on the winning bid.

It’s drifting to the higher end of the estimates of $2.80 so higher prices are possible.

Be patient.

GLP hovering close to the highs

OCBC

Still holding on to our money.

Be patient and follow system.

OCBC, be patient and follow system.

Cordlife

Not a valid arrow last week.

Also volume was too low on the day of the green arrow, so no trade.

Cordlife, no valid trigger

OUE

Be patient and follow system.

OUE be patient and follow system

M1

Be patient and follow system.

M1 be patient and follow system

TSM

Be patient and follow system.

TSM be patient and follow system

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Good trading Folks!

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