After analysing the stock market trends and stock market indices for nearly 3 months. I have been analysing and reading the day to day. I also write day to day and sometimes, it was very contradicting conclusion that I had from one day to another day. I was bearish on 1 day and bullish on the 2nd day. I realized that the market is very volatile now and analysis day to day can lead to mixed emotion and losing sight on the real market trends.
I have decided to change my analysis style a bit. I will not react be focusing too much on the day to day movement and analysing them. I will start doing a weekly stock market trend analysis instead. I will stick to my weekly analysis of the overall market trends and perform my stock market picks day to day.
I do not know how the result will be but I just feel that I need to change the style. Albert Einstein said that “Insanity is doing the same thing over and over again and expecting different results”. So, it is time to change the style as we continue this learning journey.
Let’s start with Singapore market first. Where is Singapore stock market trends for this week?
Look closely into the Singapore Straits Time index (STI) chart below, you can see that STI is hovering aroudn 2,800 now. It touched and rebounded and retraced again last week around this level. It is a psychological level that everyone is watching now and therefore you can see so much price action.
Looks like it is now supported pretty well on the 2,800 and the lowest support will be 2,745 level which was the Year Low formed in March. You can read my last few posts about Singapore Stock market trends on Aug 11 and S’pore stock market trends on Aug 8.
However, all indicators like ADX, MacD and RSI are showing down trending signals. So, will Singapore break the support and dive south? Oooohh, that will be scary, isn’t it?
My take now, bear is dominating the Singapore stock market based on the chart pattern, 60-40. A break out will increase the down trend probability to 70-30 against the bull. I am also similar pattern on the Hong Kong market as well which I will post next, stay tuned to the HK stock market trends in the next post.
Singapore Straits Time Index Weekly Stock Market Trends
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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