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Daily Market Opinion for 23-May-2013
By Jay Chia - Your Financial Mentor  •  May 23, 2013
Daily Market Opinion for 23-May-2013

Daily Market Opinion for 23-May-2013

STI managed to recover its previous day’s losses yesterday. This recovery shows signs of market gaining confidence despite the long awaited speech by Ben Bernanke last night. STI managed to open with a strong gap up which directly recovered the previous day’s losses. The bullish strength managed to push the market to as high as 3464 level before profit takers starts to set in again. The market was seen lacking of much volatility during the day but trading volume had started to improve yesterday. Eventually, STI managed to maintain its positive opening by closing with 10.47pts higher. STI ended at 3454 level. Last night, Ben Bernanke decided to maintain their QE policy, citing that the economy is still not ready for adjustments. Hence, DJI reacted with 80.41pts lower. Will STI be able to continue its bullish movement today? Or will STI retrace back ...

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By Jay Chia - Your Financial Mentor
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