STI - Today

Another day of bearish sentiment. Right from the start in the morning, STI sunk miserably. The afternoon was a desperate attempt to even up but ended in a consolidation down by 13.66 points to 2,240.49 points. Declines outweighed advances 351 to 137, along with a 786.1 million shares exchanging hands. Again, nobody knows the reasons behind this downfall but many dealers blamed it on the rising lending rates and the uncertainty behind the upcoming GPD.
Banks and Tech shares were again in the losers list. Property counters shared similar faith,with Captialand leading the fall, down by 8 cents to $3.26 on volume of 19.4 mil.
One divergence from Yesterday was most Blue Chips also succumbed to the downside pressure. Such includes: SMRT, SPH and ComfortDelgro. It was really the worst market to be in. Meaning: one day, we see the Blue Chip or the Tech share up and the next day it lose its gain back to ground zero!
SPC seemed aggressive today, gained what have been lost yesterday but still having a minus equation (Loss: 22cents Gain : 14 cents). Hope it is not one of that Distribution/Markdown rebound of which the end result is even more fatal! Who dare say right or wrong now? The key here, remember and remember it hard is “To walk away solvent”. No right or wrong: to stock market, the egoist is certainly right all the times, but DEAD right!
From the chart above, the red rectangular box depicts consolidation in the tail end pattern. Thus it is most likely to spill over tomorrow. Meaning, a bearish tomorrow. I certainly like to lose my egotism here!