Daily Market Opinion for 18-Sep-2013

Yesterday was a cautious day for STI as market participants were cautious of whether to take positions before the FOMC meeting tonight. Many were wary of the possible decision of easing of the monetary policy tonight; hence, many were staying sidelines. STI opened slightly up in reaction to the positive closing by DJI on the previous night. There were struggles to keep the bullish up during the morning session but the market was able to perk up again during the noontime. However, trading activity was low and STI keep within its tight range. Eventually, STI closes its day at 3180 level where it only gained 1.44pts higher. Trading volume was obviously on the low side yesterday.  Last night, DJI also experienced cautiousness as it closes with 34.95pts higher. Will STI be able to gain some momentum today despite the FOMC meeting tonight?

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