Daily Market Opinion for 09-May-2013

STI created a new high yesterday by breaking the recent high of 3405 level. The day started with a bullish gap up which was being sustained for the whole day. Buyers started to stream into the market in hoping to ride on the current bullish wave in the market, thus, pushing STI higher during the early morning session. This bullish strength was being sustained till the afternoon session and it hit as high as 3423 level before profit takers starts to stream in. The last hour of the day was flooded by eager profit takers whom want to take the opportunity to lock in their profit. Hence, STI did no close near the high of the day. STI ended at 3413 level and achieve 29.86pts up. Last night, DJI managed to continue its bullish streak and close with 48.92pts higher. Can STI continue ...