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Daily Market Opinion for 30-Aug-2012

Yesterday was another quiet day for STI as traders continues to be cautious. STI opened slightly higher during the day and did attempt to trade higher. However, buying strength was not sustainable as there are still sellers waiting above to sell. Reaching only as high as 3054 level, the sellers prevented the market from rising and instead forcing the price back to the opening level.

Daily Market Opinion for 29-Aug-2012

Cautious trading sentiment continues to plague the market as many were patiently waiting for the US Fed reserve’s chief speech on possible stimulus plan. STI opened with a slight gap down testing the support level of 3040 again. There were some attempts of rebounds seen during the day but it continues to face selling pressure.

Daily Market Opinion for 28-Aug-2012

Yet again, STI ended with another flat day without clear direction. STI opened with a slight gap up yesterday but it failed to sustain its bullishness after HSI opened with a bearish note. The gains from the opening were returned and entered into the negative territory. The selling pressure was gradual as the trading activity was light throughout the day.

Sideways movement confirmed for STI

Last week, STI experience a week of wild swings but it resulted in closing 11.62pts lower for the week. A mixture of positive and negative set of news was being reported over the week. Reports of introduction of QE3 funds are still being speculated during the week but the market did not react positively this time round.