It is not the first time for any prominent political figure to be tested positive for COVID. The PM of the UK, Boris Johnson also contracted and recovered from the virus. Right after the news about Trump and the first lady, markets dipped and bounced back before the end of the day in STI. As we move towards the last quarter of the calendar year, STI is likely to climb amidst higher volatility. In today’s analysis, we will look at the historical performance of STI from October to December from 2016.
STI – Updated Daily Chart
Currently, STI is still showing no sign of recovery although retail buying pressure should have dropped significantly last week and institutional buyers are coming back into the scene. This is evident in the short spike back to the 2500 level in the past week.
STI – Updated Weekly Chart (Historical Reference)