27 Feb '13, 4am

Daily Market Opinion for 27-Feb-2013

STI plunged deeply yesterday as the concerns of Italy election deadlock caused market participant to take it as an excuse to exit the market yesterday. STI opened with a gap down which directly send STI to 3269 level which broke the 20ma support at 3280 level. There were attempts to rebound during the morning session but many made used of the opportunity to exit on strength. Most of the selling strength comes during the afternoon session as more people decide to exit the market in anticipation of deeper drop to come. Eventually, STI ended up with 34.5pts down and close at 3254 level. Last night, DJI managed to recover 115.96pts as the fears ease out. Will STI be able to recover today? Or will STI continue to retrace further today?

Full article: http://thefinance.sg/2013/02/27/daily-market-opinion-for-...

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