This post is late due to personal reasons. I am just too busy and lack of rest to have promptly maintained this site last Friday.
The Singapore market closed up 11.65 points on Friday after its drastic plunge in the morning after the early gap after the opening. An interesting note is that from 5pm to 530pm, the market was on a downward movement.
The US market was in the green on Friday and I can reasonably expect Monday to be green for us. However, considering the current trend, this moderate upside may not be enough to counter the start of a downtrend as can be expected after Thursday. The HSI closed 0.64% lower on Friday and the movements of our market lately has been tracking that.
If Thursday's selling was sparked by shorting more than profit taking, Tuesday may be the start of a new surge towards the upper limit. My outlook stays at 3250 for resistance and 3000 for support in the short term.
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