Daily Market Opinion for 9-May-2014

Daily Market Opinion for 9-May-2014

Rebound happened for STI yesterday as market participants starts to receive positive news from both US & Ukraine. STI reacted bullishly to DJI’s previous night’s closing and was able to open with a slight gap up. There was an initiate push to push STI to as high as 3254 level but sellers start to enter the market in fear of further selling pressure to occur for the rest of the day. Hence, the bullishness failed to sustain and STI started to hit a low of 3240 level. Before market closing, STI managed to revive itself and started to rebound. This rebound had helped STI to gain back its lost grounds and ended its day with 11.26pts up. STI closed at 3247.69pts. Last night, DJI closed slightly higher with 32.43pts up. Will STI continue to make gains today? Or will fresh concerns start …