Daily Market Opinion for 12-Feb-2014

Daily Market Opinion for 12-Feb-2014

Yesterday was the 4th consecutive days for STI to end higher. It was buoyant by the new Fed’s chief, Yellen, first speech. Market participants first reacted positively during the opening session by opening slightly higher. There was some selling pressure at first which push STI to a low of 3013. However, when HSI starts the day with a positive mood, STI started to climb back up. In the mid day, STI was able to hit as high as 3042 level before profit taking starts to set in. Before closing, profit taking started and caused STI to close at 3029.10 level. Despite that, STI still manages to make a gain of 11.90pts. Last night, DJI managed to rally another 192.98pts. Will STI be able to continue to trade higher today?  Or will retracement start to show today?

It was a great …