It amazes and amuses me how often people who issue market calls – “This is the bottom of the bear market” or “This is the top of the bull market”.

They basically make the call basis on only a few days market action. The stock market is not like paddling a small boat that can turn fast.

In fact, stock market is like a huge ocean liner, and it turn slowly.

Let us look at STI weekly chart and daily chart to see what are the messages…

Straits Time Index closed at 3,345.32, up 29.64 points for the week.

Yes, the uptrend still intact.

Weekly MACD histogram is ticking up and this may test the resistance of STI 3,350.

Weekly Impulse and daily impulse is green (you can long or stay sidelines but prohibited to short sell).

Weekly and daily CADI is ticking up, this is a good sign as overall market breath is moving together with STI.

In summary, STI is still in uptrend mode.

Hopefully my position on Keppel Corp and Rex Intl will move up with the trend.

Best wishes,

Divergence Trader Francis

Disclaimer: This blog is created for the sole purpose of education, discussion and knowledge sharing. All charts and information can be obtained freely from the internet. All analysis are based on my own personal view and years of experience. It should not be used as a decision to solicit buy/sell activity. Use all information at your own discretion and practice due diligence.

The post Respecting the Trend – Weekly Market Review – 24/11/14 appeared first on Divergence Trader.