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North Korea Tension to impact Straits Times Index's performance.

The month of August ended with a bullish week, with Straits Times Index gaining 17.69pts for the week despite concerns over North Korea firing a missile over Japan. For the start of the week, STI faces resistance from 3270 level which stops the market from going higher. Knee jerk reaction was felt Tuesday when reports of North Korea’s missile flew of Japan was announced.

Straits Times Index trading at critical point.

The Straits Times Index managed to halt its bearish movement as it managed to find its support after breaking its important support of 3270 level. The bearish sentiment only managed to push STI to as low as 3244 level before bargain hunters entered the market to scoop up bargains. However, the buyers were unable to push STI beyond 3270 level as this level seems to turn into a resistance level.

Straits Times Index faced 3355 resistance level.

The Straits Times Index faced a week of selling pressure as tension arises between North Korea and US on Friday. The week started with lack of catalyst to push the market higher. Market participants were more eager to take profit off the market after numerous index components went ex-dividend. With some buyers support, STI was seen holding firmly above 3300 level till Thursday.

Straits Times Index starting to show signs of weakness.

The Straits Times Index attempted to trade higher last week as the market entered deeper into the earnings reporting season. The week started with profit taking action but buyers were quick to snap up the sellers the next day. Further buying continued but it failed to reach the resistance at 3255 level; reaching a high of only 3249 level.