S&P 500(SPX) is showing negative divergence which is bearish;
HSI got a bottom tail bullish candle on Fri, bullish
SSE retracing to its key support level, bullish
STI sideways for the past two days, the short term resistance is 3168, key support is 3120. Few stocks formed bullish reversal candle pattern, and may rebound today. Overall, I'm having few counters in hand to monitor, will go long if STI were break its resistance, or wait for it retrace to 3120 to load some longs. see ya soon.
2 comments:
Is it safe to load up on longs at 3,120 when that is the neckline of what could turn out to be a H&S?
Even if you cut loss quickly, you will suffer quite some heavy losses if you are load up on longs.
I too would like to do some buying at 3,120, but scared of the H&S.
Hope you can shed some light on this. Thank you.
The probability it will rebound at 3120 is very high, at least for a short term. mkt is very quiet now...
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