Above is a daily chart of the STI. The overall picture is that the STI is still in a longer term up trend, and what has happened over the past week or so is a correction. Support is at 3078. Today's close above the 50day moving average line is positive. The trend in the short terms appears to be sideways. The uptrend to 3170 looks set if the STI is able to hold above the 3130 level.
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