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Friday, November 16, 2012

Friday Indicator

It's a bloody week for STI, it has dropped 63 points or 2.1% as of yesterday. STI had gap-down in the opening today tested its weekly S3 @2938 then rebounded a bit. Low of today is at 2931.6 by noon. STI currently trading at 2946(@12.06pm).

Friday Indicator levels:

61.8%: 2985
59%: 2977
38.2%: 2968

Well, given current bearish sentiment, it will be difficult for it to reach any of the level today. STI has no signs of immediate rebounce.

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