STI Gap Resistance 3103~3116

US market rebounded over 150 points in the early trading as investors saw hope for further economic stimulus from the Federal Reserve. The Dow Jones Industrial Average saw a strong morning rally evaporate during the afternoon, but still finished with a gain of 44.73 points, or 0.36%, at 12491.61.

STI had an inside day yesterday, closed up 11points at 3088. The immediate resistance is the gap from 3103~3116, bullish if it stay above the gap, the 3090 is also a level to gauge the bulls and bears strength. To downside, immediate support is still at 3062 Fibo level.

The momentum is slightly bullish to me.