Daily Market Opinion for 14-Dec-2012

STI hit a new high yesterday after new stimulus measures being announced by the US Fed government. STI opened with a gap up in reaction to the positive news and sellers attempted to sell into strength during the early trading session. Buyers were being positive and push the price back whenever an intraday retracement happens. Mid day trading session was lacking of trading action but before the closing of HK market, STI started to gain bullish strength. During the late afternoon trading session, STI hit as high as 3156 level. STI eventually closed at high of 3156 level with 14.98pts higher. Last night, DJI failed to impress and retraced with 74.73pts lower. Can STI continue to hit new high today? Or will STI start to retrace today?

STI closed with a white candle with lower shadow. This candle indicates that STI is still ...