I see lots of excuses to stay out for now. Bank stocks all breached their supports. OCBC breached and came back up making a reversal doji. But I do not think it is valid. Indices, HSI and Nikkei look like they are losing their footing on a cliff, despite their subdued recovery today.
I do not see any of DBS, OCBC, SIA, Wilmar, UOB, KepCorp having any favourable setup (3:1 reward:risk) to enter on a dip at this juncture. No breakout setups with 3:1 reward:risk either.
So I wait and monitor at the end of the day.
PS. Only Gold (SPDR Gold Shares) shows any promise. But bear in mind when you trade gold, you also need to be mindful of forex.
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