Overall, the trend for the day appears bright. Investors are likely to get wealthier and prosperous on the eve of Diwali. We expect 6130 to be the near-term support while resistance is seen around 6230.
The world has received another large dose of liquidity from the Federal Reserve as it tries to jolt its economy out of a deep slumber. At US$600bn for the next eight months, the size what is called “QE2” is more or less in line with estimates. The big question is will it boost the US economy?
US stocks oscillated just before and after the Fed move before ending higher. European stocks slipped. Most of Asian benchmarks are up this morning.
Northpole Team
