STI - Today

Today profiting-taking day across the board!. A shrewd investor will definitely more concern now on the general market direction. The chart for STI didn’t look good at all. Based on a normal cycle period of Singapore which last for 3 to 5 days, it would appear that the selling heat shall continue for awhile. Also see the STI Intraday on this Blog's top right column which exhibited an ending down trend unable to lift up at last minute. This could mean a "spill over" of the bearish mood tomorrow!. Hmmm.. 11.27 points dropped on high volume of 1.299bil – that is no good. The Candlestick also confirmed a bleak short term. A shooting star followed by 2 crows!!  All the fearful things happened: RSI down across 50 mark, CCI screamed Overbought and ADX bent down against the 40 line! Of course the main trend is still intact, short term looks bad! I shall leave the support and resistance to you to figure out and spend more time to prepare for tomorrow’s plan: to take crucial action to protect my profit/capital if deemed fit!