Like the broader market, STI has rallied since the beginning of the year. However, unlike S&P500 (or /ES), STI has already turn and seems to hit resistance. From the Ichimoku Daily Chart, we can see how it has dipped below the Tenkan sen. And the Tenkan sen is starting to turn downwards; suggesting that the… Continue reading Straits Times Index (STI) . Long term trend still bearish.
Since the gap down from July, STI has hardly recover. Price range has ‘consolidated’ between range 2528 to 2900 Currently, from the Ichimoku chart, STI is trading below the kumo. All signs point to a lower STI going into 2012. 1. Trading below kumo with resistance at 2714 2. Both Tenkan sen and Kijun sen… Continue reading Straits Times Index (STI) Trend heading into 2012
All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts. If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead. I expect tough times ahead in 2012. UOB with support at… Continue reading Singapore banks in bearish territories.