Market Review and Trends
Bearish first week for Straits Times Index
By Jay Chia - Your Financial Mentor  •  January 6, 2014
Bearish first week for Straits Times Index
Bearish first week for Straits Times Index The first week of 2014 seems to bring cheers and fears to market participants last week. The pre-New Year sentiment was a bullish one as Straits Times Index managed to break resistance levels easily day by day. Even the first trading of the year brought STI to new highs. However, last Friday, STI dropped strongly as fears of weak China economy can have an impact on our local market. The drop last Friday had abruptly erased all the gains that were accumulated since the start of last week. With an opening at 3159.68 last Monday, STI closed on Friday at 3131.47 level. Hence, for the week, STI lost 18.29pts to clock the first week of the year. Will this first week of bearish closing make the subsequent weeks to be in a bearish sentiment? Let’s read the charts to get ......
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By Jay Chia - Your Financial Mentor
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