STI At Its last Leg?

2009Oct-Straits Times-640×699

1st Support at 2677 held.

Expect S&P 500 to hold at 1072 today. Its gap of 1075 has been filled as I type. News are mixed, but would expect s&p 500 and the rest of US market to close either flat or green. Since gap has been filled, would expect a bounce up to break new highs again. Another short rally to be seen soon.

STI: If a rebound from 2677 tomorrow, minor wave 4 has complete and will rebound to try breaking 2740 to reach new highs. Stay calm and wait for the next rally to offload. No need to panic sell at the moment because of dips. Although I have stayed bullish, but STI have disappoint me, despite global markets rallying. STI have peak out? When will it start moving? STI should be moving in narrow range until it hit 2770? Will have to wait till funds start pouring into SG market.

Many indicators are showing a divergence sign. But I would not turn bearish immediately. Investors who bought last week should should start getting ready to offload when STI hits target region 2770. Those who missed this last leg should not be chasing after tomorrow if there were to be a bounce tomorrow (tomorrow will be the last day to chase), as we are already at the tail of the rally. Stay sideline until further signals to short (or prepare for a bigger rally?)

Kepland has reported some good results. But instead, crapital land rallied. I believe Kepland still have more space to move. This will be fundamental play.

Just penning down my random thoughts in a random way.