Potential Evening Star on STI

It was on Saturday that I have heard news on the passing of Madam Kwa Geok Choo, she is the wife of the present Minister Mentor of Singapore, Lee Kuan Yew and mother of the prime minister Lee Hsien Loong. My condolence to the Lee family (should they visit my blog).

Over the radio, I have heard about the Lee family asking for people not to publish any arbituary on Mrs Lee's passing to make this a private affair. The state media however, seem to fail in understanding this. Articles on Mrs Lee have been published on newspapers for days with more than 1 page of coverage every single day. Some of the articles even exagerated her contribution to the country ( this I heard from forum ). She is the wife of Lee Kuan Yew, is it necessary to make her bigger than life?

At the same time, I have been reading on forums about her, netizens seems to be much less sympathetic to her. To them, it was like "finally! She is dead!" While most netizens dislike the Lee family, primarily Lee Kuan Yew, it is not justify poke fun at her death simply because she is his wife. With all due respect, see her as a person, while I do not see much contribution from her to the country ( probably because I seldom read about her stories ), she has done little in harming people as far as my understanding goes.


Fig 1 STI Daily Chart

Well, one reason I wrote about Mrs Lee's passing in this blog is because of market reaction. It shot up by 30 plus points when opened, only to drop to 3,197 by closing time. So is this also because of the market joyous on her death? I mean it is like the market mocking at Lee Kuan Yew's loss.

While the RSI and Stochastic have turned upward indicating a possible continuation uptrend, the indicators are pretty high at this moment. I doubt that the market is very bullish. I suspect STI is having an evening star.

The market is realistic, it does not joke or mock at someone's death. I think the market is now worry about the political uncertainty of Singapore. Mrs Lee passing means Lee Kuan Yew losing a pillar of support, I believe Mrs Lee's presence is is very important to generate drive for Lee Kuan Yew. He might not last until the next election without her, let alone running an election.

It is a high chance that market is about to turn.