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Tuesday, March 23, 2010

Market Update

US market rebound up again, after one day down from the resistance level. So it's not that simple everytime short at resistance, market will go down straight. I believe last night up contained lots of short covering. Below are the over indices numbers:

Dow: 10786 +44
SPX: 1166 +6
Nas: 2395 +21

As market back to Friday's high(minor resistance),I feel market go can either way tonight: continue up or sell down from here( trapped bulls).

As for Singapore market, STI formed a big black candle yesterday with 26 points down. So watchout long positions and their support level.

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