We received good news from Bernanke in the midnight.
However, Dow is still unable to break through the 12760 level.
If Dow is able to break and hold, it will move itself towards 12875 which is only 110 points.
The probability of Dow moving towards 12875 is around 60%?
The bulls have been real strong.
For STI today
STI is facing a MAJOR resistance of around 2905 to 2915 levels.
This level is the double top formed in the last 6 months and also coincides with the 200MA.
Maybe pennies could be in play again.
*Note: Yesterday STI rallied quite substantial, the positive news could be expected and factored into the markets. I really won't advise in jumping in with longs as of now.
TRADE WITH CARE. AND GONG XI FA CHAI. :)
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