STI rebounded 13 points to closed at 3025.46, back up to its support level( refer to my previous post) after Thursday's 30 points loss. In the whole week, STI lost 25 points or 0.8%. Since it's the last week of the month as well, STI lost 11 points or 0.4% in the month of Aug. Other major indices weekly and monthly performance as in the table below:
US market remain positive for the month, while HSI and SSE and STI all are red for the month. On the weekly basis, all major indices are red, indicate bearishness in near term.
Below are weekly charts for the indices:
STI is still holding above 3000, though weekly chart shows a red candle indicate near term bearish.
Dow: Retreated from its major resistance level 13220.
SPX: Unable to break major resistance 1425.
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