Trend: Sideway, downside bias

Instead of charging through 3200, STI went sideway last week; range bound by about 60 pts. This is a sign that the bull waves that started a month ago has lost its momentum. The sideway trend is likely to continue into this week. STI failure to break 3200 last week, will make it even for difficult to break 3200 this week. As such STI is expected to range bound between 3180 to 3120. Intermediate terms traders may like to take some profit and to recover some capital on their long positions. And wait for opportunity to buy on dip. Short term traders may like to stay sideline this week.

STI Weekly Preview

Trend: Bull trend intact.

The election really is still strong. And should be able to carry STI pass 3200 before the middle of next week. After which there may be a minor pull back before it continue to challenge the 3270, previous high.
Next week the focus is on earnings in US. Unless there are major earning disappointment, STI should continue to charge upwards. Long term traders, who have bought 2 weeks ago, should continue to hold their position. Short term holder may like to sell on really and to buy again on the pull back. 

STI Weekly Preview

Trend: Up

The election rally has began. STI is going to enjoy multi-weeks up trend from this point onwards. It may pull back a bit to let off some steam for the continuous rise from last week. This pull back will present an opportunity to pick up some stocks. Long term traders (who have closed their short recently) can now turn around and go long during any pull back opportunity. Short term traders may like to buy as the stock is moving up to ride the up tide.