gekkohot

STI weakens end August. Beware of 3024.

Short
TVC:STI   Straits Times Index
Profit taking gas been observed in all the heavyweight STI component stocks based on the STI Matrix Heatmap including the banks and property counters.

The STI has been in a range since 080321 between 3024 and 3237 for 5 months now.
On a longer term outlook, the long signal on 010321 at 3108 on the monthly charts must break above the range at 3237 to confirm a move to 3406.

A break below 3024 will signal a pullback of the STI to 2652.
A short signal is now active on the 4hr and the day charts at 3144.

LONG TERM UPTREND since 010321
MEDIUM TERM UPTREND since 071120
SHORT TERM PULLBACK since 190821

PIVOT 3024
Long positions above 3024 for 3199 and 3406
Short positions below 3024 for 2805 and 2652