Market looks like a knee jerk reaction. The support at 50MA has broke. the next support will be at 13550. Looking at the indicators, chances of going lower is very low. Moreover next week will be the FOMC meeting which everyone is waiting for Mr. Ben to do a rate cut. Chances of cutting the rates will be 50 50 for quarter points. So do not put so much hopes on the interests rate cuts. Overall our STI market as I had predicted after looking at the opening of Nikkei, I know STI sure will drop at least 3% or more. We should see how Dow performs tonight at closing. Overall the Support of 13550 range is pretty strong too. A very low chance for it to break.
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