Happy Father’s Day to all the Daddy out there.

Last week volatility marched in as the focal points were the Fed meeting on interest rates and Grexit issue in Europe.

Fed promised to be nice and gradual in its rate increases so we will not be seeing interests rate hike in Sept.

As for Greece, an emergency Eurozone Leaders’ summit has been set on Monday evening.

Most people feel very uncomfortable dealing with uncertainly.

For traders to make money in trading, you don’t need to forecast the future. You have to extract information from the market and find out whether Bulls or Bears are in control.

So let’s look at the chart…..

STI Open: 3,338.10

STI High: 3,346.02

STI Low: 3,291.06

STI Close: 3,300.96

Price Change: -52.89

Percentage Change: -1.58%

Total Volume: 1.09 Billion

Notice that weekly Chart MACD histogram is still ticking down, dragging this indicator to another bearish levels on the weekly chart. Growing bearish leadership suggest lower prices ahead. On the daily chart, MACD histogram is getting shallow and hang in its zero reference line.

From the signal, STI is hanging by the nails (3,300 levels)...

Still, it is important to keep in mind an old saying - 'this is not the stock market, this is a market of stocks.' Individual stocks/penny may well walk to their own drummers. With the risk of trouble growing, it is a good idea to tighten stops on your positions - and to trade smaller size.

Best wishes for the week,

Divergence Trader

The post Hanging By The Nails – Weekly Review For 22nd Jun 2015 appeared first on Divergence Trader.