I did a post mortem on the stocks and found that the damage today is pretty light. One thing for sure, the volume is pretty light, below the 14 days average mostly. Property and Marine counters doesn't seem to enjoy the volume they once command anymore. Banking and Technology sector generate the most volume so far. REITs continue to be affected negatively by the higher interest rates. I continue to like the way our market is moving. If you are scared right now, snap out of it. Because market will suddenly move up like last Friday. Do not miss the chance. I will turn on cautious mode only if STI test 2190. For now, i see high volume on up days and light volume on down days....what does this tell you?
No breakouts were found today.
People! I welcome any questions on technical analysis or market sentiment. You may post the question in the shout box or email me privately. I will try my best to answer best to my knowledge.
