Straits Times Index=2,201 (Pulling back is unavoidable..200DMA at 2,031 should hold). The FSSTI has broken past an important resistance long-term trendline resistance near 2,200 last week. Pullbacks have been equally shallow. While there is so noticeable pause in upward momentum on index stocks, we do not see the risk of a steep sell down as yet. Since late last week, market volume is dominated by small-cap stocks. The ranges of some of these stocks have expanded more than 50% above the typical 3 -5 day average ranges. This suggests growing confidence in small caps.
Sponsored Links
No comments:
Post a Comment