Dear readers, looking at the Straits Times Index (“STI”), which is oft-cited as the benchmark for Singapore stocks as a whole, could investors infer certain traits of the Singapore stocks markets right now to analyse the Singapore stocks markets going forward?
I always like to use the STI ETF (ES3:SI) as an analysis of the Singapore stocks markets. The STI ETF is a ETF which tracks the STI. The performance of the STI ETF will help inform me of how the Singapore stocks markets is performing as whole.
Looking at the STI ETF right now technically, the STI ETF is attempting to break above the 200-Days-Moving-Average which it has broken below on 5 Aug 2019. Any convincing move above the aforementioned longer-term average will be considered bullish since from the technical point of view, that break may be considered the restart of a longer-term uptrend.
But in my humble opinion, even if the STI is to head north, there is limited upside for the STI when we weigh against the current macro backdrop of the global stocks markets.
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