Daily Market Opinion for 22-Feb-2013
STI failed to head higher yesterday after concerns of US’s bond buying decision and China’s property cooling measures might affect the growth of the market. STI opened gap down as the concerns from the US market reflects the opening price. Rebound as attempted during the early trading hours but buyers are not convicted and avoided supporting the market. Sellers dominated the market after HSI opened in red and concerns from China’s property cooling measures plague the market. The selling pressure forces STI to as low as 3279 level before rebounding to close at 3287 level. This bearish day caused STI to lose 21.29pts. Last night, DJI still ended with 46.92 pts lower as concerns still loom the market. Can STI sustain it current bullish state? Or will STI start to retrace further to reverse the current trend?
The past 3 days indecisive bullish ...
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