On Wed, I sent a broadcasting of S&P 500 weekly chart with NH-NL (New High New Low index) and an email (Thurs) title "Ice Cranking".

On Fri, U.S market cracked even louder (-279 point).

All these updates are only available to students.

And now, let's turn to our charts to see where we are and to plan ahead...

STI Open: 3,408.88

Week High: 3,430.81

Week Low: 3,389.73

STI Closed: 3,417.51

Price Change: +14.65

Percentage change: +0.43%

Total Volume: 1.383 billion

Life is fast. We make a decision - and right away want to see the result. Quick, but not so in the market. It is much slower. Even STI up 0.43%, not much has changed over the past one week. The top gainers that boosted STI up 0.43% were Jardine Matheson (USD $1.16), Jardine Strategic (55 cents), DBS (10 cents) & Noble Group (8 cents)

The weekly impulse system is blue and daily impulse system is Green. Weekly MACD histogram ticked down and daily MACD histogram bar tick up. Weekly CADI pointing down.

On last Monday, STI sank to 3,389 levels (day low) and bound back. Continue to watch the 3,390 levels as near term support

In summary:

After an uptrend since Dec, is not a time to load the boat but to manage profits and make sure, those profits will not be given back to an abrupt change of direction. I know that the lack of momentum can frustrate many traders. Having patience to wait on proper setups can be difficult. Let's be patient, not jump the gun.

So please be sure to protect profits on long positions with hard stops. And if you're comfortable in short selling, dust off your list of candidates .

Best wishes for the week ahead,

Divergence Trader

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