I decided to change the presentation of my charts with the intent of keeping things simple. Above is a daily candlestick chart of the STI showing only the daily volume and a 200-day and a 50-day moving average. The 200-day and 50-day moving average shows the longer term and shorter term trend respectively.
My comments on the STI follows:
We had a minor correction from Apr 10 to late May 10 when the index dropped from 3016 to 2650. It has since rebounded and now appears to be settling above the 50-day moving average. The longer term trend, as shown by the 200-day moving average is still up. Shorter term trend is also up.
