STI 07/12/12

DJ was +39 and local market resumes its vibrance with confidence. Like I said, window dressing in Dec. Funds are buying and STI reaches 3,107 at 10.50 am. It is around the market resistance of 3,110 for the last 12 months. Smart traders were already in the market when it turns around from 2,950. Getting in now would mean high risk but then, there is one whole month to play around. It seems that the market is having a short-term speculative play but I don’t eliminate the possibility of it breaking the resistance of 3,110. We shall see how the candles behave for the next couple of days to see if it really break 3,110.