Daily Market Opinion for 11-Oct-2013

It was a third day of rebound for STI as bullish sentiment starts to set in further into the market. Expectation for the end of US shutdown was being speculated to be soon and this lifted the mood of the market up yesterday. Hence, STI opened with a gap up opening and was seen holding well during the morning session. There was some selling pressure initially which pushed STI to as low as 3161 level but buyers came in to buy into weakness during the day. A high of 3176 level was hit and eventually, STI closes at 3169 level with 15.07pts up for the day. Last night, DJI rebounded strongly with 327.09pts up as there were positive moves by the US government last night. Will STI also enjoy the strong rebound today? Or will sell on news happen instead?

STI’s continuation on ...