Daily Market Opinion for 09-July-2013

STI started the week with a negative note yesterday despite positive performance by DJI on last Friday. STI opened with a gap down action as it reacted to the negative sentiment in the Shanghai market. Further selling pressure was seen when HSI open with a strong negative note, which encouraged more sellers to enter the market. This made STI to hit a low of 3132 level before it rebounded back; before closing STI managed to maintain above its 20ma line and support of 3150 level. Trading volume continues to be low despite the volatile intraday action. With this, STI concluded the day with 14.26pts lower and close at 3155 level. Last night, DJI closed with another day of positiveness which gained 88.85pts more. Will STI be able to gain back its losses and stay above 3150 level today?

A short black candle with ...