Good morning, the STI was very quiet in Feb 2010. I am not sure why things were so quiet, but it could be due to the CNY holidays in China and Hong Kong. My comments on the STI:
Looking at the longer term trend, The STI is still trapped in no-man's land; between the 50% and 61.8% fibonacci retracements. Support at 2700 appears to be very strong, but for the STI to resume its uptrend, it has to break above the 61.8% level (about 3000 points).
Medium term trend: sideways, with slight upward bias toward the upper channel of the bollinger bands.
Short term trend: momentum moving up (based on MACD) and the upturn in the moving average line. The STI looks poised to go up further in the short term. Initial resistance is around 2800.
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