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Due to family commitment, I have been away for about 2 weeks. My last post suggested that the dip in mid Dec was buyable. I am glad to say that it did work well.
Based on my equity indices renko charts having huge down volume spikes on Friday's close, I was expecting a gap up on Sunday night. However, given the extensive institutional hedging flows, I don't quite believe the gap-up will hold into Monday close. I expect a few days of volatility before uptrend resumes. I do believe uptrend should last another couple of weeks. Right now, I see mid to late Jan as having a high probability of forming some sort of a top for equity indices. |
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