Daily Market Opinion for 04-July-2013

STI failed to impress yesterday as it failed to break its resistance at 3180 level and came tumbling down lower than it had gained on the previous day. The day started with a slight gap down motion as it reacted to the bearish DJI closing on the previous night. Weak China data was being reported and STI started to slide during the day as it also reacted bearishly in tandem with the bearish HSI. There were no strong moments of recovery during the day but sellers continue to dominate the market. However, the trading volume during the day was unimpressive as it continues to show a cautious market despite dropping in value. STI ended at 3129 level with 43.83pts down for the day. Last night, DJI managed to recover slightly with 56.14pts up. Will STI continue to drop lower today? Has the hope ...