Anyone remember a game call Whack-a-mole? When I were little, we used to play this game called whack-a-mole. It was a board with holes in it and these little moles would randomly poke their heads up.
Your objective was to take a hammer and whack these moles over their head knocking them back into their hole. The moles you whacked the more points your scored.
The market today remind me of the whack-a-mole game. As soon as the buyers poke its head up (barely) and then sellers come along and "Whack" the prices back down!
Let’s look at the chart….
STI Open: 2,855.04
STI High: 2,904.98
STI Low: 2,816.76
STI Close: 2,832.64
Price Change: -49.95
Percentage Change: -1.73%
Total Volume: 1.109 Billion
I hate to sound like a broken record, but not much has changed in Singapore market. The markets has continued to hold short term support as it trades range bound but a break in support at 2,800 is likely to push STI to test 2,740 – 2,700 levels.
No Indicators give perfect signals, but what we want is tools that tell us when risk is increasing and when to become more aggressive or conservative.
With the Fed announcement out of the way, the focus will be shifted to Q3 earnings (SG & US) that will kick into full gear in a couple weeks.
Allow me to repeat: "Just keep in mind that this market is very jumpy and volatile. Don't overstay your trades. You have a profit - grab it and run. You show a loss - cut it quickly."
Best wishes for the days ahead,
Divergence Trader
PS: I found this flip-flopping market very suitable to my style of catching trend reversals. You can follow how I managed my trades in my Facebook. But first, let's look some of my results and my trades...
Trading Dow Jones Index
How I managed my trades
The post Whack-A-Mole – Weekly Review For 28th Sep 2015 appeared first on Divergence Trader.
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