Players watching by the sidelines

Today's volume was very light. I woke up just before noon and saw that in the top volume list, majority of the counters did not even hit 10k in their trading volume. I guess that a lot of people are sidelining the market.

Quite a lot of counters dip today and the dip was quite significant. What was strange was that the dip was on very low volume and that showed that there were very few buyers to push back the price. It was only during the end which some of the counters recovered back some ground. I'm not that worried about the dip cos it was on low volume. The market's sentiment now hinges on the outcome of the Fed meeting so it's quite pointless to discuss anyting until the outcome is revealed. One may take a bet now and place a position in the market or just sideline and watch the show :)

For the Straits Times Index, it formed a hanging man candlestick today which is bearish by nature but overall, it is still supported on the 100d MA.