Daily Market Opinion for 14-Aug-2012

Yesterday, STI started the week with a positive note by closing 10.61pts higher. The bullish movement for the day started off with slight gap down. But the selling pressure was weak as it was quickly overcome by bargain hunters lurking in the market. Despite weak market sentiment in HSI, STI was able to ignore the bearishness and continued to trade higher. This bullish momentum during the day did not meet any strong selling pressure and this resulted STI to close at 3064 level with 10.61pts higher. Last night, DJI failed to maintain its bullishness and close with 38.52pts lower. Will STI be affected by the bearish sentiment in DJI last night? Or will STI ignore all the bearishness and trade towards its recent high again?

A white candle was formed by STI yesterday. This white candle implies that the intraday sentiment …