13 more trading days to go.
At the beginning of 2013, I mentioned that "While the direction towards 3530 remains intact, i cannot rule of the possibility of a change in direction to a downtrend. Do take note the market behavior at 2980, followed by 2910"
STI seem to be approaching the last two line of defence: 3048 - 3072 and then 2980 - 2990 level. While the weekly RSI continue to remain stuck in the Bear Mode after the May 2013 selloff, the daily RSI appears to be reaching its extreme level.. (the lowest point of daily RSI since Oct 2008 is 18.525)... looking for a reversal bar (i.e a possible technical rebound)... Christmas Rally? Month End/Year End Rally?
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