Let’s have a quick look at how’s the STI looking so far.
Currently, we are at around 2847. If you look at the 2015 chart, we are coming back down again, close to year low in late September. Just by looking at the moving averages alone, you can see that we are still downtrending. However, STI been testing the 20dma (red line). If STI happens to rebound from the September low, technically speaking, it is likely that it will rebound from there.
Till date, we are still far from year’s high, around 3549.
Let’s see if there’s any Santa Claus rally towards end of the year..
This year’s low was also during the low period in Mid 2012.