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Wednesday, May 5, 2010

What Do The Charts of SPX and STI in Common?

US market plummet last night with SPX down 29pts (-2.38%)at 1174, Dow down 225 pts (-2.02%) at 10927. The deepest drop over last three months.

SPX currently is at its 50dma support 1168, it either stop here and rebound, or continue sdrop to the next major support at 1150.

2010May-S&P 500-800x600

As for STI, it dropped to its 50dma too, and into its prior major congested area between 2936 to 2886, which it could provide support to STI.

2010May-Straits Times-800x600

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