momentum

Long term indicators for the STI, the banks and the Jardine group of stocks have strengthened, resulting in resilience

STI's component stocks remain within narrow ranges with Keppel Corp showing signs of a breakout

STI continues to be weighed down by property stocks, banks and REITs, and could test its March low.

Despite a positive divergence SIA has yet to complete a base formation and breakout. The STI's next support is at 2,450.

STI steadies on Fed guidance, short term indicators oversold

With indicators weakening, the STI will stay hostage to short term downward pressure and the volatility of global markets.

The Straits Times Index stayed within a narrow range during the week, ending at at 2,509, down 30 points. The move is small in relation to the market’s absolute level, and on Sept 4, the STI formed a white candle on marginally higher volume, suggesting

The Straits Times Index stayed within a narrow range during the week, ending at 2,539, up 11 points week-on-week but below the 50-day moving average at 2,596 and its 100-day moving average at 2,589. Both moving averages appear poised for a negative cross.

Although the Straits Times Index started the week on a firm note, it lost most of its gains, and ended 53 points lower week-on-week. Much of the decline occurred on Aug 20, when the STI fell to 2,527, before stabilising to end on at 2,528.