11 March 2011

S&P500 vs STI

  • Some problem with my Simsci chart (not updating), hence replaced it with the FT Straits Times Index chart as a good proxy.
  • Was long S&P vs short Simsci before. Lifted the long S&P leg which now looks to be a good decision. Only naked short Simsci now.
  • STI uptrend over on weekly basis. Double top formed and attempt to pull-back to NL this week ultimately looks to have failed. Appear to be making a new down leg now. Am watching for signal to increase trade size (outright short Simsci).
  • S&P : Still reserving judgment on possibility of uptrend being over. I would be very wrong if it is a V-top. In general, I much prefer to see multiple tests of price extremes (in ths case, a top) before calling a turn. In any case, being square is a good place to be now.

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