Daily Market Opinion for 19-Feb-2013

STI started the week flat as the bullish trading momentum starts to lose its shine. There was lacking of positive catalyst to help STI to maintain its current trading momentum. STI opened slightly higher as it lack of direction from the US market’s previous day’s closing. In the morning trading session, some selling pressure peeked in as HSI opening in red, with profit takers seen in the market. However, STI managed to stay firm and recovered back to its opening price in the afternoon session, in conjunction with the recovery by HSI. Trading volume was seen on the low side as traders stayed sidelines. Eventually, STI closed at 3288 level with 5.07pts higher. Last night, DJI ended flat again with 8.37pts higher. Will STI continue to consolidate today? Or will STI attempt a reversal at this point in time?

STI closed with a ...