Straits Times Index
The STI closed with a hammer today after touching the uptrend line and rebounded from it. Volume was light while CCI (5) has reached oversold. There may be a technical rebound unless affected by poor overnight performance of Dow ( as of the time this post was written, Dow future was -30 ).
At any time if the uptrend line is violated, the uptrend established since early June will be jeopardized.
Labels: Market Direction
posted by Market Wizards @ August 22, 2012
