STI Update

STI index is still in “Bearish” mode. The index closed at 2847 points, down from 2926 points.



The index fell into “Bearish” phase in the beginning of June and has now stayed in this mode for 32 trading days. The index is now near the low of 2746 established on 22 Jan 08.

The market is still in a down trend and it is not advisable to play the long side of the market.

The previous “Bear” attack lasted 51 days from 9 Jan 08 till 24 Mar 08. Let’s see how long this bear attack will last.