Follow Up*********************** STI Direction: 3220 did not hold, 3180 did not hold either ,where to now ? now 3165

Following up from previous STI Direction call, STI did not hold above the 3180 support level as well for the whole market. Next support at 3150 then 3100 critically for now. Market has been generally weaker on the back of weaker overseas market. US weak economic data coupled with Europe weak global growth numbers with Ebola outbreak, ISIS and all the bad news coming into the market. All 3 indicators are pointing downwards for STI and no sign of any reversal as yet. We may see some bargain hunting by big boys who are cash rich from the 3150 and ultimately the 3100 level which takes us back to March levels. Some of the blue chips like wilmar, Keppel Corp, Noble Group,  genting SP has been hit and may still dip before the market stabilizes. Nevertheless, those looking to accumulate on dips can consider longing near their next support levels for any technical rebound.

Sent: Monday, October 13, 2014 9:40 AM
Subject: Follow Up*********************** STI Direction: Where to now ? A BREAK down ? ...... Now 3211

STI has broken immediate support at 3220, NOW AT 3211…., this can be a sign of further weakness to hit the general market in the coming days. Next support to watch is psychological 3200 level then 3180. Those with cash to accumulate on bargains can be nimble and consider accumulating some of your portfolio blue chips near STI support levels.

Sent: Wednesday, October 08, 2014 11:18 AM
Subject: *********************** STI Direction: Where to now ? Consolidating within range for more direction...... Now 3227

From previous STI Direction analysis, STI did not managed to stay above the 3265 over the past few trading days and has traded lower back to next support at 3220 as mentioned. Today’s low seen as 3223 currently. This 3220 level will serve as the next support level; and we can expect a range of 3220 to 3265 before any clear direction is seen again. For those looking to accumulate on dips, can consider loading up on some blue chips to ride any rebound above 3220 support. Any breakdown of 3220 can open the way down more to 3180. Note that 3220 level also coincides with the 200 day MA LONG TERM trend line support which can lend some support for any rebound.