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Daily Market Opinion for 07-May-2013
By Jay Chia - Your Financial Mentor  •  May 7, 2013
Daily Market Opinion for 07-May-2013

Daily Market Opinion for 07-May-2013

STI had a bullish start for the week yesterday. As noted yesterday, a bullish start will mean that STI will be able to sustain its bullish run before a retracement can happen. The bullishness was due to the positive closing by DJI one last Friday.  This boosted the confidence in the market. Strong performance from the regional market also helped STI to maintain above 3370 level. Around noontime, STI managed to hit as high as 3392 level before profit taking actions starts to set in. Eventually, STI did not show much difference from the opening level during its closing. STI ended at 3382 level with 12.39pts higher. Last night, DJI closed flat with only 5.07pts lower.  Without leads from DJI last night, will STI be able to sustain its support at 3370 level?

STI stubbornly refused to start a retracement action ...

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By Jay Chia - Your Financial Mentor
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