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Monday, March 22, 2010

Market Update

US: The overall market sentiment remain bullis, as major indices such as SPX and Dow had a breakout above its major resistance, and hit new year high. But in short term, technical retracement down will happen anytime( last friday already down a bit), as most indicators are in overbought region.

SG: Local benchmark STI is a bit lag behind its US peers. It's currently trading within the prior congested area( resistance), as indicate in red tinted color in below chart. I expect it will consolidate in this area(2940~ 2895) for a while.

2010Mar-Straits Times-800x600

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