Daily Market Opinion for 10-Oct-2014

Daily Market Opinion for 10-Oct-2014

STI recovered its previous day’s losses as the US Fed meeting concluded to be delaying the interest rate hike. This brought cheer to the market by having a gap up opening. There wasn’t much selling pressure at the opening time as STI only manage to hit a low of 3239 level. The rest of the day was in bullish strength which pushed STI to as high as 3264 level. However, despite the strength during the day, there were profit takers towards the end of the day which caused STI to close at 3259.25 level. 32.54pts was gained yesterday. Last night, DJI was seen reversing its gains by dropping 334.97pts down. Will STI also reverse its gains today? Or will it hold its gains?

Volatility seems to set into the market again after STI start to reverse its 2 days losses in just …