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.
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.
(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.
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.
(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.
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.
(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.
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.
