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Daily Market Opinion for 15-Aug-2012

STI continued its bullish streak yesterday after speculations of recovery of the different economies. STI started with a lacklustre opening as it open slightly higher. Trading activity was slow during the early session as participants of the market were looking for directions. After lunch hours, buying momentum started to pick up again as HSI took the lead in the bullishness.

Daily Market Opinion for 14-Aug-2012

Yesterday, STI started the week with a positive note by closing 10.61pts higher. The bullish movement for the day started off with slight gap down. But the selling pressure was weak as it was quickly overcome by bargain hunters lurking in the market. Despite weak market sentiment in HSI, STI was able to ignore the bearishness and continued to trade higher.

STI is running the risk of uptrend reversal

Again, STI experienced a strong start for the week but test 3080 resistance level on last Monday. The strong start comes with easing of economic tension but the bullishness was soon to ease off. STI failed to break 3080 despite its attempts for 2 days in a row. STI started to retrace before the national day holiday after China announced with economic data.

Daily Market Opinion for 10-Aug-2012

On Wednesday, STI was seen retracing further as traders unload their position for the national day holiday. STI started flat during the opening and did attempt to climb higher but sellers were waiting there. Further selling started when HSI opened and participant of the market became concern of the weak economic data from China.