singapore stock market update 29/9/08

if we look at the singapore share market behaviour over the past six months, apart from it being in an obvious downtrend, i also noticed one other pattern, that the singpaore stock market tend to stage a nice technical rebound 2-3 weeks before the results reporting seaons.

1Q08 correction

the singapore straits times index (STI) rebounded from 3042 around 14th april 2008 to 3241 on 16th may and proceeded to a big correction once the results reporting season ended.

2Q08 correction

the STI and the share market did a one way traffic downwards from 3241 points on 16th may and again rebounded 2-3 weeks before the 2Q08 results reporting season starts around 2835 points 16th july.

3Q08 rebound ?

so based on the recent historical behaviour, we can expect that the present sell down in the stock market which started after the 2Q08 results reporting season ended may have a chance to see some reprieve as we get close to around 15th of october, which is again 2-3 weeks before the 3Q08 results reporting seaons begins.

So…..be patient.

cheers

rooney