Singapore Stock Market News
Bears taking charge in Asia
StockFanatic
Publish date: Mon, 17 Jun 2013, 09:19 PM
StockFanatic
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The S&P500's downleg in the past few weeks looks like a mere three
wave correction. The uptrend is intact for the S&P500 as the recent
1,598pts low has not been taken out. However, the bears have taken
charge in Asia. MAxJ's 525pts major support was broken this week.
Thailand's SET and Indonesia's JCI are currently testing their respective
200-day SMAs. Although the medium-term trend is down, we are looking for a
rebound soon for both indices as well as those for the rest of Asia.
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