STi

As requested by Bion, we have here our STi. Since its all time high of 2666 to its recent low of 2280, it has retraced back 38.2% from the fall at 2424. To maintain its upwards recovery, it has to consolidate at at this crucial point for the weeks ahead. Important resistances to breakout from are 2450 & 2490, support points to hold up the index are 2380 & 2350. Now that the World Cup(which are blamed for the june's correction) are over, and the earning reports season are back, we can only hope that fund managers, and short-term wise, the hedge fund managers, whom are said to have exited much of their holdings during the correction, can start to load up their portfolios. And of course, for some pleasant surprises on the upcoming earnings reports. Perhaps the following report and Mr. Lee, could spur some enthusiam/confidence to investors/traders/funds/uncles/aunties/you and me. ;)

" SINGAPORE - Government of Singapore Investment Corp, which manages Singapore's reserves of more than US$100 billion, said on Tuesday it would raise its investments in emerging markets in Asia, Europe and the Middle East"

"Speaking at a dinner to mark GIC's anniversary, Mr Lee, said the average annual rate of return was 8.2 per cent in Singapore dollar terms. The return over global inflation was 5.3 per cent a year."