Singapore Stock Market closed lower September 9 2011

Indonesia stock info - Singapore Stock Market closed lower September 9 2011 ; Market closed lower, off 31.80 points with a volume of 1.3374 bln traded. We believe that market is now directionless and consolidating. Low of 2680.83 now serves as a support as well as 2735.87 which is the 2nd support level. We believe that market shall retest 2680.83 again. 2 cases of scenario :

1st case : Market retests 2680.83 and manages to break through but eventually reclaim 2700 psychological support. Consolidation set in before moving up slowly.

2nd case : Market retest 2680.83 but break through successfully and 2700 turns to an immediate resistance. Market shall throw back with more selling for the next few sessions.

We deemed that there are 50% chances for both cases to happen. However, US market is now off about 2.55%. High chance that Singapore market will gap down on Monday trading. 2800 might turn out to be a resistance.

Venture, IndoAgri, Olam, SIA Engineering, SIA, SGX The above mentioned are some of the weakest stocks seen. Current sentiment neutral, biased towards bearish.

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