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Friday, March 26, 2010

Market Update

US Market had a roller coasting last night, it hit a new yearly high and was selling down heavily. The candlestick looks very bearish, expected the retracement is imminent. market never go up one straight line.

As for S&P 500, the immediate support level I am watching is 1157 ~ 1150 area, where 1150 is the 20dma. and prior resistance turn to support now.

2010Mar-S&P 500-800x600

STI stayed flat yesterday, looks it can go either way now, but if US come down, it expected to retrace down to its 20dma 2850 thereabouts.

2010Mar-Straits Times-800x600

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