Dear readers, as you may have realised by now, the global stock markets are getting more and more volatile each day. In today’s post, let me share with you on one not-so-often-talked-about insight of the Singapore stocks market.
The 20-Days-Moving-Average (DMA) of the Straits Times Index (STI) ETF (ES3.SI) crossed below the 200 DMA of the ETF on 20 Dec 21. This is a bearish sign for the Singapore stocks markets as the previous time the aforementioned occurred in mid Feb 20, the Singapore stocks markets went to a low for the markets in recent years in Mar 20.
The above sign is bearish because we have a short-term moving average of 20 days crossing below the longer-term moving average of 200 days.
In the last weeks of Sep 2021 to early Oct 2021, the 20 DMA of the STI ETF ES3.SI consolidated around the 200 DMA of the ETF before the rally of Singapore STI and the STI ETF in Nov 21. Right now, the 200 DMA of the ETF is not tested in my opinion: it is clear that a downtrend for the Singapore stocks markets has set in.
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