STI hit new high to 3054.9 yesterday, the STI component stocks are pushing the index higher, other than that, the second and third liner stocks not much movement. Today, STI pulled back a bit from yesterfday high to closed at 3036. STI immediate support is 3025, which is resistance turn support level.
Firday indicator for tomorrow:
61.8%: 3028
50%: 3020
38.2%: 3012
The trading range for this week has been tight so far. As I'm writing, the US market dropped a bit, dji down 50 points now but not much selling pressure. Singapore market has been outperforming its peers, it was believed the funds are flowing in to local market, partially attribute to the strong Singapore dollar and some of the undergoing takeover and privatises, such as F&N, Isetan, CerebosPac.
Thursday, August 2, 2012
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