Ireland bailout, China and HK fighting property bubble and now N Korea launches artillery into S Korea. The impact on the Singapore market? High 3313, now 3126 - a loss of 187 pts or 5.6% over two weeks. The STI has closed below its 50-day moving average - very negative in the short term. It closed near the previous pivot low of 3120. If this support is broken, then it signals further downside to the STI.
My suggestion is to stay out of the market since the short term trend is very negative and to reenter only when the price bounces off the 50-Day moving average trend line. Longer term trend based on the 200-day moving average is still up.
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