SET Index : Wants to rebound, but Japan effect not over yet

The SET chart below was captured at 3pm, and shows a reversal pattern on the make. The Thai market will only get hammered if there is a broad based institutional move out of equities on a global basis, but this seems unlikely, albeit possible.

However the situation in Japan is such that we can not rule out a worst case scenario nuclear disaster, and if this occurs the chances are the SET will have to revisit 950-970 again – just when things were beginning to look rather promising.

 

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