Uptrend
My positive view of the market proved to be correct. The STI rose very sharply over this holiday-shortened week. It closed above the top of Wave 1 (red), ending near today’s intraday high. This promises that the momentum will drive Wave 3 (red) higher next week, possibly to reach 4000 or higher. However, the dark cloud of USA’s threat of carrying out its imposition of higher tariffs after the 90-day postponement could instead drive markets down. Due to the market uncertainty I have sold off all my US stocks, except for gold and silver ETFs, i.e. GLD and SLV, and Newmont Mining, the world’s largest gold miner. Even then I am watching the US market closely, as well as in Singapore.