Monday, October 24, 2005

STI Today


At 9.00am today, the STI grazed near my predicted resistance level of 2254. The 2250 level was however not sustained. Quickly it declined and went under ending minus 16.53 point (2222.83) .. Noteworthy fact was the D-ve went above D+ve with a threatening decline endeavour. Also ADX sloped upward signified an added trend on the declining end. Whether today's STI fall will spill over tomorrow is anybody's guess!!!. Of course, not forgetting the Dow and Nasdaq on the Macro background. While I am writing , Dow is 91 pt and Nasdaq 12 pt up simultaneously.
My previous posting on the Tech sector prediction based on Dow and Nasdaq divergence came in accurately today. Perhaps, another impetus of the day was the DBS Group’s upgrading of Chartered” from hold to buy” in the morning. Chartered, StatsChip and UTAC rallied in tandem.
What ever will happen will happen!!!. Still watching USA’s trading now. Image of tomorrow can only be conjured by tomorrow morning; with all the USA situation then concreted.

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