Straits Times Index (3,442, daily)
Although the Straits Times Index rose 15 points during the week, technical indicators continue to deteriorate. The 200-day moving averae is at 3,375, and the index whipsawed the moving average on Apr 3 before regaining the moving average the following session.
In the meantime, the 50-day moving average has turned down, and the 100-day moving average is in the process of turning down. Quarterly momentum has broken below its equilibrium line. ADX continues to rise as the DIs stay negatively placed.
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