The STI is still in the consolidation zone After last week’s attempt to break out of the consolidation zone, the market returned back to the lows of 3090 during our short week where it then rebounded slightly on Friday. What we noticed is that quite a few counters in the Singapore market might have bottomed but some are still haunted by short sellers. During this period of time, many investors are still waiting for lower prices to accumulate or they might have been divesting if some of their holdings fail to show any potential to climb in the near term. STI – Updated Daily Chart We are currently slightly below 3100 which signals that investor’s confidence has dropped roughly 50 points or 1.5% compared to last week. The daily chart has not been very telling so we should take note of the 3080 and 3055 level to see...