17 June 2018, Sunday, 5.55pm Singapore Time
(Click on Technical Chart above to Expand)
Attached is the Very Long Term Technicals for Singapore Straits Times Index. The Straits Times Index has had broken up the 10-year trend resistance (double black lines) and is currently using the short-mid term correction to backtest this 10-year Resistance-Turned-Support in black. Once this backtest completes, Straits Times Index will go for a target of way beyond 4000 points (4500-5000 point as target). This kind of backtest will normally shake out majority of the herding market participants. This is a market S.O.P -- it likes to shake out weak holders with fear before the next very major large wave up. We are still in Secular Bull Market (refer to trajectory in blue). There is 0% chance of bear market in current economic cycle of expansion. Corrections remain healthy.