US is now testing its August low (resistance) at 12,515 level. A break appears likely, which could send the index towards the 12,900-13,100 level next. Would the FED cut rates by another 50bps tonight? If they don't, then we can forget the 12,900-13,100 level as sellers would likely pile in..
STI - facing some difficulties... today would likely be another mixed day... still, i expect it to retest the 3,268 level soon. If not, then the index could ease to retest the 2,775-2,850 level again.
KLCI - lacking momentum too... this rebound needs to kick up higher from here - otherwise, it could be heading back to 1,340 or lower.
All in all, the global markets still hanging by a thin thread... the Bernanke's thread.. if he does not cut rates (then bye bye!!??!!).
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