STI In Selling Mode

Few points to jot down for today.

- STI is in accelerated selling mode, many stocks broke their downtrend channel bottom line.
- STI closed at 3020, down 34 points. 3020 is the historical resistance turn support level. Also its historical uptrend line support level.
- STI is expected to find its short term support at 3020~ 3000 level.

STI Momentum Indicator( proprietary indicator) falling below 60 level now, STI rebounded every time when it fell below this level previously, will history repeat itself this time round?

Genting Sp is at its major support 1.85 level. More downside if it closed below this level, or otherwise it may get a rebounce from here.

I'm out of town tomorrow. So there will be no update for Friday until I'm back on Sunday. See you again. Wish all of you good trading.