SET Index : Hit our target at 1140-1145, but VST risk increasing.
August 3, 2011 Leave a comment
A week or so ago we said 1140-1145 would be squarely hit given a US debt ceiling rise, and we got an intra day high of 1148 and a close at 1144 on Aug 1st.
The market can indeed go higher – all that would need is a strong rebound in western markets, maybe some better than expected econ data and the SET and the market makers will get higher still, maybe pushing 1160 or even 1180.
For this week a close above 1140 would be ideal, but as long as 1124 is not taken out on stronger institutional selling a retest of recent highs and probably a 1150 handle on the SET Index for a few ticks is certainly possible.