Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,109.83 -17.91 -0.57%
Hang Seng 26,173.59 +124.87 +0.48%
Dow Jones 26,252.24 +49.51 +0.19%
Shanghai Composite 2,897.14 +13.71 +0.48%
S&P 500 And STI To Continue Uptrend
Trend Spotting | 02 July 2009
By: Xavier Lim
Articles (51) Profile

The S&P 500 and its 25-day moving average (MA) still remain on top of the 200-day MA even after last week’s pullback. Coupled with the fact that the 60-day MA has also crossed beyond the 200-day MA, trading momentum remains favourable.

Although both the S&P 500 and the STI show that a head-and-shoulder formation is likely to emerge, based on my view, both indexes are likely to trade sideways to form a ‘V’ shape and push through the 950 level and 2,400 level respectively. The S&P 500 is likely to test the psychological resistance of 1,000.

3-year period daily chart for S&P 500
1.5-year period daily chart for STI
Armed with an arsenal of investment knowledge, Xavier is the Senior Research Editor at Shares Investment.

Please click here for more information about this author.

Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.