STI - Today

Today, the morning session was a soaring one till 10:00 am. After which it was on a long but tight and flat ground range, until the end. STI managed to gain 13.97 points, or 0.6%, to 2254.46. Unimpressively, the volume dropped to 664 million...
All Major Banks were up, probably due to the easing sentiment of previous days’ higher interest rate worry.
Tech shares also reversed and regained yesterday’s losses. Some seasoned traders in the forum also cheered at the sight of institutional buyers into Tech share.
Again, the tango rhythm echoed not only in the Tech sector but also the property & blue chip counters. The so called one step forward two steps back extended to Capitaland, Kepeland,SPH and SMRT. SMRT did well, even blinked upwards 2 cents along with the recent XD not dissipated.
Oil firms were up, with SPC back to $4.6, up 8 cents on volume of 2.64 mil. This exactly balances up the loss equation of 22 cents 2 days ago;striking my anticipation of a “ground zero” scenario.
One noteworthy penny stock, Electro Tech seemed pretty strong and held steady all day. It raised 1.5cents
Hopefully, today’s performance can continue and its patched tight range (as shown in chart above) could be a window of opportunity in the coming days. Tight range, the longer the better, and when it breaks through, the volatility would be many times its previous range height. So, get your money ready and let’s rally together!