FTSE Straits Times Index (FSSTI)

Pause to continue as STI drifts sideways

SINGAPORE (Nov 16): The Straits Times Index peaked temporarily at 3,285, before retreating. At its current level of 3,238, the index has stayed above the 200-day moving average at 3,227 and the 100-day moving average at 3,208.

Chart 1: STI with moving averages and momentum

Temporary pause likely after breakout

(Nov 8): Although the Straits Times Index retreated on Nov 8, the rally should be able to resume. On Nov 2, the index had broken above its 200-day moving average at 3,226 accompanied by expanding volume.

Chart 1: STI with moving averages and momentum

Quarterly momentum remains strong after breaking out of its own resistance and equilibrium line. The 50-day moving average is also rising.

Resistance at hand; STI may break out

SINGAPORE (Nov 1): The Straits Times Index is testing and challenging its 200-day moving average at 3,225. While volume expanded, it remains to be seen if it is sufficient to trigger a clear breakout in the immediate term.

Chart 1: STI with moving averages and momentum

Rally has legs as short-term indicators continue to strengthen

SINGAPORE (Oct 25): Quarterly momentum continues to rise, and this trend is set to persist till momentum approaches its equilibrium line.

Chart 1: STI with moving averages and momentum

Rebound should continue as short-term indicators strengthen

SINGAPORE (Oct 21): Although the Straits Times Index rose just one point in the Oct 14-18 trading sessions, the index tested the 50-day moving average and attempted to move above it.

Chart 1: STI with moving averages and momentum

Quarterly momentum had rebounded off a one year low, but remains somewhat lackluster. However, momentum could gather steam during the week of Oct 21-25.

STI decline halts at support, attempts rebound

SINGAPORE (Oct 11): It appears that the Straits Times Index managed to hold at 3,078 on Oct 4, in the area of a previous support and above the Aug 28 low of 3,056. Quarterly momentum has rebounded off a one year low. Volume expanded a little on white candle days, but has generally stayed subdued, suggesting that the market is attempting to bottom.

Chart 1: STI with moving averages and momentum

STI approaches support; indicators continue decline

SINGAPORE (Oct 4): The Straits Times Index is approaching its Aug 28 low of 3,056 as short- and medium-term indicators are becoming increasingly oversold. Quarterly momentum is at a one-year low. This could provide some support in due course. In the immediate term though, sentiment remains poor and quarterly momentum may test a new one year low first before rebounding.

Chart 1: STI with moving averages and momentum

Selling pressure abates but STI eases further

SINGAPORE (Sept 27): The decline, following a test by the Straits Times Index of the confluence of the 50-, 100- and 200-day moving averages at 3,216 to 3,244 range, is likely to continue. Quarterly momentum is likely to continue declining and has yet to reach the low end of its range.

Chart 1: STI with moving averages and momentum

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

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