Daily Market Opinion for 23-Jan-2013

STI was trading listlessly yesterday as market participants are lacking of leads. Due to the lack of leads from DJI which was closed for holidays, STI opened flat. In the early opening hour, traders were eager to take their position off the market which pushed STI to as low as 3210 level. However, bullish traders were able to absorb the sellers and helped STI to recover back to its opening levels. It attempted to stay positive during lunch hours but failed to maintain it. Eventually, STI closed indecisively at 3219 level with merely 1.46pts down. Last night, DJI resumes trading and was able to achieve 62.51pts up. Can STI continue to head higher despite lacking of fresh leads? Or will STI wither off and consolidate at the 20ma support line?

STI closed with a doji like candle yesterday. This candle signifies indecisiveness in ...