SiMSCI - Time to Take Profit

Is the SIMSCI run up to the Chinese New Year going to abate soon? If you have been holding a long position from the 250 level and below, you may just want to take profit before the CNY holidays. It is expected that SiMSCI volume will be thin on Friday when market reopen - most traders are still on super long weekend holidays.

I still believe that SiMSCI will do a "10 to 15 points" correction before it can move above and break the 258 level. Otherwise, it may have to spend several weeks or even months ranging between 249 and 254.