Daily Market Opinion for 26-Dec-2012

Daily Market Opinion for 26-Dec-2012

In a half day trading session, STI traded in a flat session as market participant were in Christmas mode during the day. STI opened with a slight gap down and it took its time to pick up the momentum as traded volume was seen to be very low. Buying strength slowly creep in during the day the first hour of the day to push STI as high as 3171 level before sellers came in to control the market for the rest of the trading session. The traded volume for the day was seen to be very thin for the day which caused STI to end up at 3168 level with merely 5.01pts up for the day. On Monday, DJI ended 51.76pts lower during its half day trading session. Will STI continue to consolidate today? Or will the breakout occur soon?

STI closed with …