First of all - welcome to my weekly update of Singapore Market.

There is a tremendous amount of work to maintain a blog. Now I realize that blogging requires a lot of dedication and efforts. I hope my blog will not be so boring by showing charts, charts and charts. I will share my experiences and hope it can benefit to my readers.

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And now, let us turn to STI charts.......

Look at weekly & daily chart of Straits Times Index, I see several messages:

STI are moving towards 3,350 which is a resistance. Current STI is at 3,315 points.

As we know, STI is represented by 30 component stocks and currently only a few heavy weight counters are moving UOB, DBS, OCBC, SIA, SGX, SPH, Singtel & Capitaland.

We should also look at the market breath, CADI (this index is only available on my blog).

CADI direction for both weekly & daily are ticking down.

However, Dr. Alexandra Elder impulse system for weekly & daily chart is green bar.

(The Impulse system is based on two indicators: EMA (reflecting market inertia) and MACD histogram (reflecting market power). When both indicators rise (bullish), the bar will be green. The Impulse system doesn't tell you what to do. It's a censorship system that signals what you're prohibited from doing. When it is green, you are prohibits for shorting but you can long or sidelines.)

The bull is tired but still on top. It is not time to be aggressive buyer and all long positions must be protected with stops.

Best wishes,

Divergence Trader, Francis

The post The bull is tired but still in charge -Weekly Update for 17th Nov appeared first on Divergence Trader.