What a difference a week makes. STI closed at 1948 points dropping a whopping 15% in a week.
The current down swing started on 4 Jun 08 when the index closed below its 50 day moving average after attempting to break out of the “Bearish” phase.
The situation seems to have spun out of control even after the US passed a USD $700 billion package that was supposed to bring relief to the financial system.
It is anybody’s guess whether the market will stage a fast or slow recovery. But as a trend investor, it is not advisable to buy into equity market at this point as the market is clearing stuck in bearish mode.
The situation seems to have spun out of control even after the US passed a USD $700 billion package that was supposed to bring relief to the financial system.
It is anybody’s guess whether the market will stage a fast or slow recovery. But as a trend investor, it is not advisable to buy into equity market at this point as the market is clearing stuck in bearish mode.
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