We have come to the end of 2008. It has been a turbulent year where trillions of dollars have evaporated in the world financial market.
Market has been pretty quiet for the past week with trading volume hitting historical low due to lack of market participation during the festive season.
Singapore market looks to be stuck in a trading range since hitting a low of 1473 established on 28 Oct 08. The FTSE STI index is now slightly below its 50 day moving average. The market tried to rally above its 50 day moving average and actually managed to close above it for 2 trading days on 18 and 19 Dec respectively. However, there was not enough strength to sustain the up move.
Looking at the charts, the trend is still negative at this point in time.
Market has been pretty quiet for the past week with trading volume hitting historical low due to lack of market participation during the festive season.
Singapore market looks to be stuck in a trading range since hitting a low of 1473 established on 28 Oct 08. The FTSE STI index is now slightly below its 50 day moving average. The market tried to rally above its 50 day moving average and actually managed to close above it for 2 trading days on 18 and 19 Dec respectively. However, there was not enough strength to sustain the up move.
Looking at the charts, the trend is still negative at this point in time.
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