It is good to relook at the chart and looking for the new meaning. After the week close, we can confirm the bearish candlestick; index close below the opening. We see the index has rejected by the same high, for continuous in two weeks.
We saw ^STI was weak last week. Reading the chart bar by bar and we now confirm the index is weak.
We see an inverted head and shoulders. But the index has rejected at the right shoulder after breakout the neckline. Is it a bull trap? Will see.
Picture worth a thousand words. See chart for more.
August 5, 2016 Straits Times Index, ^STI weekly chart
Moses Stock Analysis and Scan
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