Daily Market Opinion for 09-Sep-2014

STI performed a weak opening for the week as weak economic numbers are being announced around the region. It started the day flat and without any effort to trade higher, STI started to trade lower slowly. There was lacking of market actions during the day as the trading volume is seen to be thin. STI retraced gradually during the day without much rebound action. Thus, it is an uneventful day with its low reaching 3333 level before it settled for closing at 3335.19 level. STI closed lower only by 6.54pts. Last night, DJI traded slightly lower with 25.94pts down. Will STI continue to trade lower today? Will the rebound be coming?

As expected, STI is attempting a consolidation movement yesterday. It is still seeking its support at 3330 level despite being testing last week. Short-term indicators are on the bearish side currently ...