FTSE Straits Times Index (FSSTI)

STI retreats from resistance

SINGAPORE (Sept 20): The confluence of the 50-, 100- and 200-day moving averages at 3,216 to 3,244 range provided resistance for the Straits Times Index, which was not able to move above this area. Instead, the index retreated as the 50-day moving average crossed below the 200-day moving average. In addition, quarterly momentum – which had tested its equilibrium line – is also retreating.

STI with moving averages and momentum

STI moves towards resistance

SINGAPORE (Sept 14): The Straits Times Index is approaching the confluence of the 50-, 100- and 200-day moving averages at 3,216 to 3,244. As prices rebounded, volume contracted, an indication that buying pressure has faded.

Chart 1: STI with moving averages and momentum

Upmove gathers momentum

SINGAPORE (Sept 7): Overall, strength could be returning to the markets, as evidenced by the rebound by the Straits Times Index accompanied by an expansion in volume on white candle days. Quarterly momentum rebounded and is attempting to break above its equilibrium line.

Rebound should continue

SINGAPORE (Aug 30): The rebound by the Straits Times Index appears tentative but is likely to continue as quarterly momentum continues to recover.

Chart 1: STI with moving averages and momentum

Minor positive divergence appears

Chart 1: STI with moving averages and momentum

Sinking Singapore stocks still seen as bright spot on dividends

(Aug 23): Singapore’s stocks may be falling, but some investors say they’re still a bright spot in a global equity market marred by trade tensions and slowing economic growth.

The reason, they say, is the steady dividends paid out by much of the country’s benchmark gauge, which is filled with banks, telecommunication companies and real estate investment trusts.

Short term indicators oversold

SINGAPORE (Aug 16): The Straits Times Index has formed a minor harami with white candlesticks. Haramis are usually not strong temporary bottoms or tops. As such, the market’s downdraft may not completely have ended. However, conventional chart patterns suggest some deceleration in the decline.

Blue chips under pressure

SINGAPORE (Aug 2): Quarterly momentum has broken down and has weakened considerably since end July. The Straits Times Index slipped below the confluence of the 50- and 100-day moving averages at 3,277 and 3,278. The breakdown took place on expanding volume, a sign of selling. The next support appears at 3,200. However, since medium term indicators have weakened, with ADX turning up and the DIs have turned negative, the STI may fall below 3,200, to the support low of 3,110 reached on end-May.

Market loses steam as index drifts

SINGAPORE (July 29): Short-term indicators are showing signs of fatigue as they hover around the top end of their ranges. Short-term stochastics has turned down and could drift sideways before easing. The 21-day RSI has formed a minor negative divergence with the Straits Times Index and this could be a sign of latent weakness or fatigue for the index.

STI retests April high; breakout difficult

SINGAPORE (July 19): The Straits Times Index is at its highest level since it peaked on Apr 4 at 3,407. Quarterly momentum has strengthened at its equilibrium line, and appears poised for an upturn. Short term indicators are falling. Short term stochastics and 21-day RSI are coming off the top of their range, and their levels are still in an elevated area. ADX is falling, and the Dis are neutral – this indicator suggests that the index may stay within a range. Volume has not expanded sufficiently for prices to break above 3,207.

Be informed of the stories that matter

Subscribe

Be informed of the stories that matter