STI ended the day in a nice bullish tone with over 50 pts rally from a -ve opening...but again, going into the bigger picture, we need to see how everything is fitting in...
Currently, DJ is not having a year end rally, in -100 at the moment...
STI General Stocks:
Short Term
15 good bulls
2 weak bulls
1 bear
Bullish in the short term.
Mid Term
6 bulls
1 weak bull
7 bears
Mid term wise is still mixed.
Going to the last global market review, we saw most markets experiencing weakness in the short term bulls. STI and HSI tried to establish some strength today, but this alone is insufficient to negate the weakness if the strength cannot be sustained. The key will lie partly in how DJ performs today, not forgetting it is now trading -100. It needs to close well in the +ve region to even revive the possiblity of preventing a short term bull from turning bearish. A reversal today? It is still possible at the moment as bears have yet to gain control, but very near... take note of the nx dip, or hope there will not be one... =)
I will do a review tomorrow, enjoy your holidays...
HAPPY NEW YEAR!!! WELCOME 2008!!!
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