I have explained in my blog why I think that openings are dominated by outsiders, while the closings by market professionals.

If I am correct, last week behavior means that hopeful outsiders are buying while the pros are selling - and overpowering them.

Let's turn to our charts and numbers to decipher the message.....

STI Open: 3,456.21

Week High: 3,458.14

Week Low: 3,402.86

STI Closed: 3,402.86

Price Change: -32.80

Percentage change: -0.95%

Total Volume: 1.219 billion

The weekly impulse system is blue and daily impulse system is red. Weekly MACD histogram ticked down and daily MACD histogram bar extended (down). Weekly CADI ticked down.

Watch the 3,390 level in the STI as support and a clear break of 3,390 support will likely lead to a move back near 3,370.

In summary:

There are times when the market gives strong and clear messages and there are times when it mumbles and scratches. I love the weeks when I can state my bullish or bearish views with clarity and a good level of certainty. This is not one of those weeks. This is the time to wait and see, trade lightly, and grab profits quickly.

With that in mind (grab profits quickly), I have traded Super Group on Fri (27^th Feb) - Short sell and I covered back on the day.

Best wishes for the week ahead,

Divergence Trader

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