Right timing

Market's breakout still valid, STI to test 3,300

SINGAPORE (Jan 11): There was little change in the upward direction of quarterly momentum and the chart pattern during the past five trading sessions with the Straits Times Index gaining 30 points week-on-week to end at 3,255. 

Chart 1: STI with moving averages and momentum

STI breaks out, set to test 3,300

SINGAPORE (Jan 3): On Jan 2, the Straits Times Index (STI) broke out of a narrow sideways range it had been entrenched within since early November.

Chart 1: STI with moving averages and momentum

STI meanders; momentum strengthens

SINGAPORE (Dec 20): During the past five trading sessions, the Straits Times Index lost two points as it remained entrenched beneath its 200-day moving average at 3,224 and holding above the confluence of the 50- and 100-day moving averages at 3,203 and 3,212 respectively.

Chart 1: STI with moving averages and momentum

STI continues to strengthen but no sign of breakout

(Dec 13): The Straits Times Index has staged a rebound during the week, and is now facing resistance at its flattening 200-day moving average at 3,224.

Chart 1: STI with moving averages and momentum

Short-term bottom at hand; rebound likely

SINGAPORE (Dec 6): The Straits Times Index has found support at the 3,177. This level is a little below the confluence of the 50- and 100-day moving averages at 3,180 to 3,187.

Chart 1: STI with moving averages and momentum

Quarterly momentum is approaching support that coincides with its equilibrium line. Volume is at a low, a sign that the STI is forming a temporary bottom.

Chart 2: Short term indicators

Prices likely to form minor bottom soon

(Nov 29): Chart 1: STI with moving averages and momentum

Support is near current levels, at the 3,177 to 3,195 range, at the confluence of the 100- and 200-day moving averages.

Consolidation continues despite rebound attempt

(Nov 22): The Straits Times Index fell to a lot of 3,192 on Nov 21, below the 100- and 200- day moving averages at 3,203 and 3,228 but above the 50-day moving average which is rising and currently at 3,172.

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

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