STI has been falling > 10% from its 10 years peak ~ 3630. It was reaching its 2 years support ~ 3200 on last trading day. Trade tension and Turkey Lira plunge has been drawing market attention for the moment. Qatar has came to rescue of Turkey. Besides, US and China would resume trade talk on later this month. Any further positive outcome could give a boost for market on coming days. Looking at US, S&P500 is just 50 points shy away from all time high. As US market has not shown any sign of bearishness yet, recent dip in STI could be still translated to buying period. Next FOMC meeting fall on Sep end.
No comments:
Post a Comment