Daily Market Opinion for 1-Nov-2012

Daily Market Opinion for 1-Nov-2012

STI ended the month of Oct flat after it recovered above the 3030 support level yesterday. STI opened with a slight gap up without leads from the US market and attempted to stay positive. Volatility starts to set in after opening of HSI which triggers sellers into the market to push the price to as low as 3027 level. In the afternoon session, STI managed to recover what was lost in the morning and managed to close near its opening price. STI closed at 3038 level and ended flat with 0.36pts lower; trading volume turned significant yesterday as penny stocks hogged the top volume. Last night, DJI reopened after 2 days of closure due to Superstorm Sandy and closed 10.75pts down. Will STI be able to stay above the support level today? Or will STI break the support today?

 

Yet again, STI …