STI has closed at 3,386, a fresh 29-month high. Some of you who have been less than 30% invested in their portfolios and have not added more exposure in their equities portfolio last month are wondering whether you have missed out of the rally. Should you continue to chase this?
Read on for more.
S&P500 last closed 2,581
S&P500 is on a strong uptrend with all the exponential moving average (“EMA”) trending higher. ADX closed at 29.3, amid positively placed DIs, indicative of a trend. RSI closed at 70.7. This is not extremely overbought, relative to past levels. Over the past three years, RSI can reach between 78 – 80 before profit taking set in. Based on Chart 1 below, there does not seem to be obvious signs of potential chart reversal patterns. However, both RSI and MACD have to be observed in the next ..