
However, a look at the STI ETF (an ETF which tracks the STI) reveals to me a technical chart which I read as bearish. As of yesterday, 4 Apr 2018, there was a long bearish stock candlestick which brought the STI ETF to an Oversold region. But more importantly, the STI ETF closed, since Jun 2016 below the 200-Days-Moving-Average. Any conventional stock chartist would tell you that any stock price going below the longer-term moving average of 200-Days-Moving-Average may mean a very bearish move for the equity: it could well be the beginning of a long-term downtrend for the STI ETF which means for Singapore stocks in general.
Just look around us: potential trade wars, the development of US interest rate and other geo-political tensions and factors, there are not many positive catalysts for global equities including Singapore equities, don’t you think so? Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.