Markets Comments (DJI / STI / HSI )

Dow Jones closed at 14,447 (high of 14,448) on 11 Mar 13. It is reaching its resistance zone of 14,450 +/- 50 pts soon. I would expect DJI to have some reaction in this zone. The reaction can be either no movement, slow down, reverse or even false break out with some long spike candles or doji.
The VIX is showing that the index is overly overly bought. Let’s watch how the index develops for the rest of the week.

STI – As at now (12 MAr 13, 10.30am), STI is at 3,315 (high 3,316). It is also reaching resistance 3,320-3,340 pretty soon. It would be beautiful if both DJI and STI are reacting to the resistance zone at the same time.

Hang Seng – It is making a slow recovery. The HSI will not look good and will be badly affected if DJ is to correct/retrace soon. Its recovery will be stopped and probablly the HSI will be hit right back to its support zone or the previous low before the slight recovery.

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