STI In Bullish Phase

Singapore STI has snapped back into bullish territory. The index tested its 50 day moving average in mid July before staging a rebound. The index is now above 2500 level and is at Sep 08 level.

The party looks set to continue.

Dow Is In Bullish Trend

When everyone is expecting the market to correct, it proved otherwise. The head and shoulder pattern did a reversal and the Dow is back above 8700. The breakdown below 8000 points did not occur.

The phase chart is showing a “Bullish” signal for the index. The indicator moved into “Bullish” phase on 15 July and has maintained bullish stage for 3 trading days. The trend is clearly in favor of the Bulls.