Spore Market

Spore Market: shares may open a tad higher after Wall Street's gains Monday following easing worries over a possible Greek sovereign default. The benchmark STI Monday closed 0.3% higher at 3014, rebounding modestly after an 8-session, 3.6% losing streak, which had taken the index into oversold territory actual resolution to the Greece debt situation and more clarity on global growth heading into 2H11.
Sias says the uncertainty surrounding the Euro-debt crisis is spooking investors around the world; and despite months of discussions, Euro nations are still struggling to come to a consensus on the details of the Greek bailout. Notes most investors continue to sit on the sidelines awaiting for the final outcome of this crisis...

However, despite the relief from U.S. markets, trading activity is likely to remain muted as investors await an actual resolution to the Greece debt situation and more clarity on global growth heading into 2H11...

Sias says the uncertainty surrounding the Euro-debt crisis is spooking investors around the world; and despite months of discussions, Euro nations are still struggling to come to a consensus on the details of the Greek bailout. Notes most investors continue to sit on the sidelines awaiting for the final outcome of this crisis.
Support for the STI is tipped at 3000, then 2970-2980, with resistance at 3040, then 3050.
Corporate newsflow is thin.