Friday Indicator

STI dropped 29.75 or 1% yesterday to closed at 3011.82, picture of downside move started to unfold.

Important reminder: Today is the last trading day of the month. Be careful of "wild" reaction in the opening just like last month, though it's not always happen. STI gapped down huge at open in the last trading day of last month, created low of month at 2985.

STI is still holding above 3000, though it broke back of 3025 yesterday, together with the falling window level at 3041-3033, they become resistance for STI now.

STI Friday indicator level to watch:

61.8%: 3039
50%: 3032
38.2%: 3026

It's bearish if STI can't close at least the 38.2% level.