Hello from very hot and humid Sunday, where a weekend is sluggishly rolling to an end.

Last weekend, after I wrote my weekly review “Be Prepared”, Singapore market rallied to 7% for the week…..the last time that we have such a huge rallied was in Aug 2009.

Let’s turn to our charts…..

STI Open: 2,826.07

STI High: 3,011.63

STI Low: 2,822.28

STI Close: 2,998.5

Price Change: +205.35

Percentage Change: +7.35%

I will be brief today, as I am busy for the whole week, conducting a live trade with another trader and a meetup with my group members. So I need to prepare a lot of homework. I'll let the charts speak for themselves. The upturn of the weekly chart of STI MACD histogram is ticking up and Daily chart is at the resistance of 3,000 level. I will be watching STI at 2,970 level as a support, MACD histogram will tick down if STI fall below this level.

One of the saddest sights in the stock market is an ordinary trend-follower who sits on the sidelines as the market goes up and then turns bullish after a few weeks of a rally, just as the market gets ready to reverse. The same folks shiver on the sidelines during price drops but become short-sellers after a crash, just as a reflex rally begins to run.

You do have to follow trends but you've got to keep an eye on the horizon and try to anticipate reversals. I am glad to see how much work on this important task is being done in our blog (last weekend showing that market will turn up).

Trade well, use stops, be disciplined.

Best wishes for the week.

PS: Below are some of the trades that I have done.

The post STI Soared 7.35%, Biggest Weekly Gain since August 2009 – Weekly Review For 12th Oct 2015 appeared first on Divergence Trader.