STI tracked the US market retracement This retracement certainly came as a surprise as we did anticipate and got an expansionary budget supporting Singapore’s financial system as well as struggling businesses. However, we still witnessed a minor contraction from Wednesday onwards and the fear right now is how far would our index go? In this week’s market outlook, we will identify a few key support levels to take note of if the retracement extends in the coming week. Otherwise, we should be able to see a rebound in the global market unless another trigger is announced with severe negative impacts on the world economy. STI – Updated Daily Chart Zoomed in view of the daily chart The daily chart of the STI closed below the support level identified by the green line drawn on the screenshot above. The next identified support level was used to demarcate the crisis level which the STI broke on the 21st of...