It was an interesting day today, STI opened up looking promising and even turning positive at one point and we were watching closely to see if it can stay above the uptrend line. Hours past and finally it couldn’t hold and gave up whatever gains and closed down 17 points. It is currently below the uptrend line and with that we might see more downside to 2700. A stop loss would be at 2800 because if it crosses above that it might start to cover the gap.
Bank stocks might be worth taking a look for short too, OCBC , DBS are some of our candidates. Do do your own diligence too ya. We updates on the banks shortly