Wall St closed marginally lower but that does not tell the whole story. There was a big rally earlier in the morning trading session before concerns about the health of some hedge funds sent the bulls running for cover. It was up about 120pts before losing about 180pts but last minute buying took the Dow back to the unchanged level. Technically, this seem to suggest 'indecision'.
What is expected of our markets today? The KLCI could regain some of its yesterday's losses but I don't think it will last. Lower liners still look very tradeable (for now). The STI looks to have broken downwards from its bearish wedge pattern. Expect some selling on the blues but lower liners should still be in play.
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