As my previous posted, past two weeks we have the option expiry, Jackson Hole and future expiry. And we saw markets underwent on either a retracement or pulled back. After that, it rebounded. The strongest pulled back plus rebound came from Singapore and Taiwan.
Let's look at the Singapore future SIMSCI. It pulled back for 6 days, touches the support and rebounded. Not only it rebound but it also broke the resistant.
Now the Taiwan. It formed a head and shoulder during that 2 weeks. Investors and traders were waiting for the break down. Unfortunately, it did not happen. Instead it turned around immediately after it touches the neckline with a runaway gap. Today, it has a broke up.
Let's look at the Singapore future SIMSCI. It pulled back for 6 days, touches the support and rebounded. Not only it rebound but it also broke the resistant.
Now the Taiwan. It formed a head and shoulder during that 2 weeks. Investors and traders were waiting for the break down. Unfortunately, it did not happen. Instead it turned around immediately after it touches the neckline with a runaway gap. Today, it has a broke up.
The more you and your experts hoping to see, the more the market goes against your direction. As I mentioned, during this period, markets are highly manipulated. Don't listen others. Do your own homework. Whether you buy/long or sell/short, make sure you know what you are doing.
SIMSCI and Taiwan future, the upside looked strong. Unfortunately, I will be watching on how they perform over the next few days. It may do a retest before continuing the upside. It may fall back to the rectangular box cluster, it means it was a fault break out, ........... if the upside will to be too steep, remember these words - how it go up how it will come down. So trade what you see and not what you think. Good luck to you and me.
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