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Wednesday, 28 February 2018

Straits Times Index Intraday: 28 February 2018, Wednesday, 11.59am Singapore Time

Straits Times Index Intra-day: 
28 February 2018, Wednesday, 11.59am Singapore Time
(Click on Technical Chart above to Enlarge)

Attached above is the Intra-day Technicals of the Straits Times Index using the Keltner Channel. It is getting difficult to ramp down the index using the 3 major banks (DBS, OCBC, UOB) now. These 3 index stocks alone (DBS, OCBC, UOB) contribute to a large portion of the STI Index. On the whole, the banks are suppressed to help chalk up buys for the index buying on the Straits Times Index, as well as on the Straits Times Index ETFs. The 3 banks cannot be suppressed for too long anymore as the indices are showing strength. The herd is getting panic once again in both Singapore and Malaysia and the herd continues to be dumping away to the smart hands. We may see some major movement coming from the afternoon session of the Asian markets.

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