Weekly/Monthly Wrap

Stocks have been sold-off worldwide this week, triggered by Bank of Japan's holding off on more stimulus, and some of the major corporate' disappointed earnings, such as Apple (AAPL).

SPX hit all time high and shows bearish toppish sign which give us the first dangerous signal. The probability of heading south increased now. "Sell in May" sounds familiar?

STI, being small and nimble market, reacted and was sell-off hard this week, declined 102 points or 3.5% , something not seen since Jan this year when the index on panic selling. It also broken below its YEC 2882 level, another bearish sign.

Index performance for the month of Apr.