Overall Market for today’s open remains unknown. Currently STI is going sideways.. we are waiting for a clearer direction to be seen.
Bank sectors were seen to be leading from the start but as the clock ticks, they appear to have softened down momentarily.
Guess, today is not really a good day for trading for us, we don’t seem to be able to identify any focus for today. Will just keep in view of the market and sector performance.
Towards the closure for the day, market continues to be resilent to drop. Likelihood investors are waiting for the non-farm payoll report to be released to affirm trading direction.
STI closed positively today. Though it touches the resistance line at 2383.82, but this resistance line can still be tested again on the coming week. If US market reports good tonight (singapore time), we should see a gap up when market reopens on Monday.
In Summary on the basis of weekly chart, this week ends good with high volume, in comparison to the previous week.