Daily Markets Briefing: STI up 1.2%

But expect a pullback today.

According to OCBC, the significantly lower US index futures (down more than 0.8% now) and the poor Nikkei Start could dent local sentiments this morning.

Here's more from OCBC:

As a recap, the STI registered a 1.2% gain in the last session; it convincingly broke through the 3370 key resistance and rallied to just below the 3420 subsequent resistance by the close.

But with today’s tone likely to turn more downside biased, the index could potentially turn around at this 3420 obstacle and initiate a technical correction back towards the 3370 newly established resistance-turned-support.

Below that, the next base lies at the 3300 key psychological support. On the upside, 3460 key peak is now the subsequent hurdle.