IMF global growth forecast broke Straits Times Index's uptrend.

The bullish sentiment of STI was crushed last week after IMF reported expectation of global economic slowdown for upcoming years last week. The expected continuation of the bullish uptrend did not happen as STI started with a bearish start on Monday which brought STI back below 3080 level again. Many thought that the 20ma support line will hold STI to maintain its uptrend but the IMF report came after market hours which left many in dismay. STI gapped down strongly on Wednesday in reaction to the IMF report and it made STI trade below 3040 support level again. Slight rebound was seen on Friday recovering some of the losses for the week. STI ended at 3041 level with 66.12pts down for the week. Last Friday, DJI closed flat with merely 2.46pts up as the market struggled to stay positive. ...