Time to take some profit off the table.
I am using a made in China charting software called Homily. Using their proprietary indicators ‘Time Black Hole” and “Tai-Chi”, the STI, Dow (and SPX), FTSE REITS indices are severely overbought.
The next 3 charts are the daily charts of STI, and Dow.
In summary, in the short term, the STI and Dow are severely overbought. Time to take some profit off the table. Not decided which counters to sell yet, probably some of these:
- Genting, up 4%
- AEM, up 27%
- Best World, up 15%
- XIV, up 3.2%
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