Daily Market Opinion for 16-Oct-2012

STI traded flat but it managed to stay above 3040 level yesterday after struggling to stay positive during the day. STI opened with a gap down at 3029 level in reaction to DJI’s negative closing on the previous night. Buyers were seen creeping into the market after the opening lifting STI towards its previous day’s closing. Trading activities were low and only selective stocks enjoyed the bullishness. STI only managed to trade in the positive region when the European market opens with positiveness. However, profit takers were seen selling before the closing hours which lead STI to close at 3043 level. STI was only up by 1.3pts for the day. DJI gained 95.38pts last night on boost from Retail Data. Will STI be able to maintain above 3040 level today? If the rebound continues, how far can it go?

STI ended with ...