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Monday, September 26, 2011

STI at 2700 Support

Very good morning everyone. I'm back to the "battlefield".

Sorry for my absence for the past two weeks. I just can't log into google account(which my website based) in China. It's quite disappointing in the Internet era and no one can block the free flow of information.

STI didn't have a trending move over the past two weeks, it went back to its low in Aug, tested 2700 support last Friday. The "big" picture: STI had a lower low last week and gapped down on open last Friday, but it managed to close the gap, all the way back to 2700 support area. It implies two options:

1. A false break of the 2700 support
2. A break of the support and testing resistance( support turn resistance)

I will check the S&P 500 future for direction today.

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