Down Jones on 09 Sep 2016 closed 394.46 points lower on 09 Sep 2016 and shares in Europe and Asia dropped the most since the aftermath of the U,K. Brexit vote in June after Fed Bank of Boston President Eric Rosengren said the economy could overheat.
Singapore market is closed today for Hari Raya Haji holiday. The Straits Times Index (STI) is likely to fall about 2% tomorrow when it opens.
In my point of view, markets have recovered very quickly after the Brexit vote and finding an excuse to sell off. It will be good opportunity to buy blue chips shares when the sell-off is done.
The important support for STI will be the 200-day Moving Average at about 2,800 points. If it breaks the 200-day MA, the next support will be at 2,770 and 2,720.
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