Straits Times Index   

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pratically most stock exchanges around the world are displaying higher high. Many hedge funds got caught in the energy and commodities markets are now jumping into the equity markets to catch some last breath. Interest rate is low, oil is low etc. So they switch out of those markets into equity markets. Right? For any meaningful ups for next year, market must take a good break first for strong/tough ups next year. If not this can be the first time after so long that STI will not perform in Jan next year.

 

From the charts, the STI looks poised for a drop some time next week.

 

STI is displaying very stubborn character of refusing to be pulled down. It just wants to save face by following Hong Kong and the rest. Incidentally HK is the place for Mother of all IPOS while we just take all the SME cos of China. Desperate. STI must be prop up in order the whole market can prop up. With some dealers causing rigging in the index components stock and their covered warrants, it looks like the STI is a helpless baby. Notice everytime the futures move  first before the STI index moves. Foreign talents have all the past experience in their own countries to play this strategy.