Technical Analysis
Singapore Market Review 5 Jan and 6 Jan 2014 – Rebound intact
By Stock Market  •  February 7, 2014
As per 5 Jan 2014, we discussed that both the Dow Jones Industrial Average (DJIA) and our local benchmark index (STI) have entered into a potential reversal zone:

After the market open, our local benchmark index gap up at opening @ 2972.98.  Although it dip slightly to the level of 2972.40, in general, it was positive.  The index reached a day high of 2994.48, before closing at 2988.27, up by 28.18 points (+0.95%)

US market also open in the positive, enjoyed a broad-based rebound.  Its bullish sentiment saw DJIA closing near to its day high of 15632.10. It closed at 15628.5, up by 188.3% (+1.22%). S&P 500 and NASDAQ up by 1.24% and 1.14% respectively.  It was reported that DJIA closed above its 200-days moving average (@15483) and S&P 500 closed slightly above its 100-days moving average (@1772)

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