Aug 1-5, TA for STI

Aug 1-5, TA for STI,

• Trend - Side -> Up (Index above all MAs)
• Momentum - Overbought
• Support - 3158
• Resistance - 3200
• Candlestick - Doji (indecisive)
• Volume - Average

STI is the only index that outperform others - see the performance chart against - DJI, S&P, HSI. If you are taking clues from them, it should be a disaster week. STI seems to be preparing for a "bull run", staying high at the STI 3200 resistance level. Eg, Banks like DBS, UOB, OCBC have broken their resistance and turn support level. Next, counters that are the commodity counters - Wilmar, GoldenAgr, IndoAgri and etc. What to watch out for is the Macro Economic of US Debt?  As the Bull run for STI is ready for it - as long as this dark cloud is blown away.