Thursday, August 30, 2007

STI Outlook for 30 Aug 2007

As in the chart, STI hits 200MA and rebounded strongly. With Dow & Nasdaq moving up strongly in overnight trading, STI will continue its uptrend on Thursday in early hours of trading.
IMO, the STI's volume on Wednesday was a bit disappointing. In addition, Dow & Nasdaq closed just below their resistance lines. Therefore, this uptrend may end soon.

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