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Daily Market Opinion for 22-Aug-2013
By Jay Chia - Your Financial Mentor  •  August 22, 2013
Daily Market Opinion for 22-Aug-2013

Daily Market Opinion for 22-Aug-2013

Yesterday was the fifth consecutive day of drop for STI as concerns of US’s bond buying program stoppage continues to elevate the bearish environment. STI failed to hold itself at 3130 level and instead started the day with a gap down action which broke the support easily. There were attempt to trade higher during the early trading session but it failed to last. The selling sentiment was just too strong to withstand. Buyers were also wary about looking out for bargains and were avoiding the market. Eventually, the day started to trade lower and lower again. STI was down by 19.76pts for the day and closed at 3108 level. Last night, DJI went lower again with 105.44pts down after Fed minutes yield few clues of the bond buying program. Will STI continue to feel the bearish impact today? Or have STI dropped enough ...

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By Jay Chia - Your Financial Mentor
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