Dear readers, the US stocks markets had a bearish performance last Friday yet again with the Dow Jones down by 0.56%, the S&P 500 hit south by 0.81% and the NASDAQ Composite retreated by 1.27%. The Straits Times Index closed at 2,509.64 last Friday. With the showing of the US stocks markets last Friday, the Straits Times Index is poised to break below the 2,500 level when the Singapore market closes today.
When the breaking below the 2,500 level happens, this will be of significance to investors given 2,500 has been a support level of the Straits Times Index for some time already (as what I have mentioned). Once the 2,500 level is broken and the Straits Times Index not able to regain this level, the next support will be at 2,400 in my opinion.
Before the US stocks market corrected in the recent sessions last week, I have highlighted the Singapore stocks markets as having started to sell: selling in anticipation of bearish markets outlook and selling when there was not much bearish news and market performance from the US stocks markets. This begs the question of what Singapore stocks markets will react when the US stocks markets started showing corrections?
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