STI Update

STI closed at 3189 on Friday. For the week, the index is up by 64 points. The index is lying between its 50 day and 200 day moving average of 3025 and 3348 respectively.



The index has stayed in “Recovery” mode for 24 trading days now. Looking back at the historical data, the index stayed in “Recovery” phase for 22 trading days from 29 Apr 03 to 30 May 03 before moving to “Accumulation” and “Bullish” mode.

Let’s see if the index has the power to clear the 200 day moving average.