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.
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.
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
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.
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.
