Hi there! Here is the daily chart of the STI. The value of the index has rebounded off its support of 2223 and closed just below its moving average line. The MACD has stopped falling and has leveled, but the MACD histogram has started to turn up. The moving average line is still flat. Overall, the overall market as represented by the STI is now sideways. The close of the STI on Friday off its high is not that positive. Perhaps traders prefer to take profit from the three-day run up and before the weekend. I think its best to stay in the sidelines until the trend is more firm.
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