Jay’s Mentoring Group!

Latest Posting

Greek pro-bailout parties won the election. STI might head further.

Last week, STI was up by 73.11pts despite the possibilities of the Greek exiting the EU after its election on Sunday. Many were concerned about the outcome of the Greek election and choose to stay cautious during the week. However, risk takers and bargain hunters were seen throughout the week to pick up long positions which caused STI to trade with an upside tendency.

Bearish sentiment to persist in STI this week.

STI started last week by attempting to rebound from its recent low level but it faced gap resistance between 2798 – 2812 levels. STI failed to break the gap resistance level and instead started to retrace back to its recent low. The main cited reason for the retracement was due to the concerns of the Greeks withdrawing from the Euro zone.

Daily Market Opinion for 5-Jun-2012

 *Disclaimer: This material is provided to you for general information only and does not constitute a recommendation, an offer or solicitation to purchase or sell the product mentioned. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs.

Daily Market Opinion for 5-Jun-2012

Yesterday, STI attempted to recover after it took beating on Monday. The rebound attempt started with a gap up during opening which tested the gap support between 2715 – 2737 levels. Buying strength was seen during the early trading session which helped STI to reach as high as 2730 level.