Dear all,
Happy Chinese New Year 元宵节!
The animal spirits seem to have descended on our Singapore market! Our STI is one of the best performing indices with a blistering 7.6% year to date return. Our FSTS ST Small Cap Index has returned 4.6% for the same period. Have you benefitted from this rally?
What’s next for our markets?
S&P500
Just to recap what I have mentioned on 27 Jan 2017 (see HERE), I wrote “it is very worrying (more worrying than 13 Jan) that the various indicators such as RSI, MACD, OBV and MFI continue to exhibit bearish divergences. ADX has slid from 41 in Dec 2016 to close at around 20 on 27 Jan 2017, which may indicate that the trend seems to be weakening. Given the various chart indications, although S&P500 continues to be on an uptrend amid rising exponential moving averages (“EMAs”), ......