By now most of us would have heard or seen news about the Dow Jones correction last week, and one that affects major markets including STI. No one can predict what will happen to the market next, but out of curiosity, I noticed that these 2 counters (may have more) reacted 3 days before the correction. They may be more sensitive than the rest of the counters to what's happening, it is interesting but I am not sure if there is any correlation of any sort. Just for fun.
It may be interesting to watch these 2 counters next as it may be a leading indicator which one can use for the local market.
Noticed that 3 days before the correction, OCBC share price broke the key support level with increasing volume the next 2 days. This is then followed by the big dropped in Dow Jones. Coincident?
Similarly for STI Index, it also broke the key support and followed by 2 days of price dropped before the Dow Jones big correction.