Caution : STI closes below 3500.The STI is in its 8th month of correction since February 2020. The technical picture has worsened in the trading week starting 070920. My previous post on the 6th of Sep highlighted the technical weakness on all time frames. A worst case scenario of a test of 3200. It would be prudent for long only traders to lighten exposure for the last quarter of 2020.
For portfolio investors, they will be opportunities to look for trading ideas that I have and will continue to post as a trading idea.
For investors looking at buying on the dip, look for companies that have remained on an uptrend on the monthly charts that have held technically above the Ichimoku Cloud SSSA line.
