Daily Market Opinion for 14-May-2013

STI started the week with a slight retracement after rallying for the whole of last week. STI failed to open on the positive side during the opening but it attempted to trade in the positive region in the early trade. There were multiple swings to rebound during the day but many attempts of rebound failed to materialise. Profit takers were around to make use of the bullishness to sell into the strength and thus, preventing STI to trade in the positive region. Before the market closing hours, STI faced further selling pressure that pushes it down to close with 14.81pts lower. STI eventually ended at 3428 level. Last night, DJI also experience profit taking pressure and closed with 26.81pts lower. Will STI experience deeper retracement today? Or will STI still be able to maintain its bullish strength to head higher?  

STI had ...