Dear readers, With reference to my write-up on 26 Feb 2016 (see here), S&P500 and STI completed their bullish double bottom formation by doing sustained breaks above 1,950 and 2,645 respectively. Over the course of the past two weeks, both S&P500 and STI leapt 3.8% and 6.8% respectively. Amid the recent rally, I have reduced my equity allocation from 54% on 26 Feb to 0% now. (I was 128% invested as of 12 Feb). Why am I in cash now? Read on to find out more about my technical outlooks and market overview. S&P500 Index Just to recap what I have mentioned on 26 Feb 2016 (see here),

80. a) I wrote “A sustained close above 1,950 likely indicates a bullish double bottom formation with an eventual measured technical target of around 2,080. A break above 1,950 will have reclaimed an important up trend line established ...

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