Wall street fell on Monday, with the major benchmark index pulling away from record highs. A report indicating better-than-expected growth in the service sector as well as the Fed official’s remarks that the central bank is closer to curbing its asset purchases lead to the mixed close in the benchmark. We see caution going forward as the market could fall by a modest 1-2%.
For the next 2 trading sessions, we will not be expecting any big move in the market. Straits Times Index should be trading in a tight range of 3220-3241. Always trade within your limits and not stress out in this long weekend holiday. From today top volume showing, the penny stocks are always around and waiting for the ripe opportunity to rally up.