All in a day's work

Ho Ho Ho!

Very Interesting. STI went up convincingly by 1.2% but DOW went down convincingly by 1.96%.

Million Dollar question: Can this momentum in STI hold it's ground against the the market X times it's size? NEVER. If one had observed, STI players are usually slow to buy but fast to sell, Ah... the Kiasi Mentality, or some might put it "playing it safe". NO?

Volume is quite low by it's normal standards due to the probability that it's still the New Year mood with players taking leave and such. Next week we should see the difference in volume reflected, hopefully.

The support for STI, imo, is still some way down but then it might be worth your time, taking a look at the resistance line, created since October. There had been times when the index tried to break the resistance early/late October but..... despite opening above it, it did not sustained. Bad omen.

Stay clear a bit for now, play it safe until the haze is cleared. It's still very volatile at the present moment, where little momentum is not supported and we are, form TA's view, in a middle of nowhere.
I THINK*