Above is a daily chart of the STI. After bouncing off 2223 level three times, it finally managed to go above its moving average line and towards its upper Bollinger Band. Its MACD has also cut above its signal line and the moving average line is also turning up. All signs of a continuation of an uptrend.
Here is a weekly chart of the STI. After trading sideways for about 5 weeks, the STI finally closed above its previous high of 2424 recorded 6 weeks ago to end the week at 2434 and on increasing volume.
My conclusion is that it is safe to go long on stocks again.
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