Good morning everyone, it's the last trading day of this week again. STI managed to rebound up after it hit 2700 support on Monday, it closed at 2759 yesterday, a 59 points gain for the week so far. The rebounce is kind of short-lived and weak as the selling pressure is still dominate.
It's only good for short term trading--intraday or two days, for current market. I will remain nimble, fast in and out to lock any profit. Below is my special Friday Indicator numbers:
61.8%: 2748
50%: 2740
38.2%: 2730
The immediate support for STI is 2748, and I will be bullish-bias if STI can be CLOSED above 2740 today.
Friday, June 8, 2012
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