STI Direction: Breakdown of 2800 support level might see weakness again.......

Heading towards the 2700 level as mentioned yesterday? Let’s see…..

Sent: Monday, September 28, 2015 9:53 AM
Subject: ******* STI Direction: Breakdown of 2800 support level might see weakness again..... now 2788

Over the past 1 month we have seen some support for the STI at the 2800 level where it rebounded a few times from this psychological support. However, quite clearly, resistance still capped at 3000 for now and market is still bearish as long as it stays below 3000 level. Today we have seen the STI trade below the 2800 support level for the first time after 3 years. We have experienced the crossing of the 100 day MA below the longer term 200 day MA line which can signal more weakness in trend ahead in the short to mid term. Next support for the market would be at 2740 then 2700 for now. Those looking to accumulate blue chips or the sti indices for any rebound again can consider near 2700 then 2600 levels.

Sent: Monday, August 24, 2015 9:47 AM
Subject: ******** STI Direction: Approaching 2900, now 2905

Sti has broken both the 2950 and 2930 level today further and seems like approaching the 2900 psychological level where we may see some support again. Moving below this can see the market trend lower to 2860 then 2800. However, given the sell down seen in banks and heavy weights over the past 3 weeks, market may experience a technical rebound soon with short covering occurring and people coming in to bargain at this levels.