04/07/2011
SET 1090.28 (+48.80)

These are interesting times indeed. SET went to as high as 1094.26 (+52.78) in the afternoon session before closing a little lower at 1090.28. Leading sectors are Banking, ICT, and Property Development, all of which had an extensively high volume of trading today. Total value traded today was also very high at 63.11 billion baht. It hasn't been this high in a long time.

The SET daily chart made a leap to the moon today. All the indicators shot up. RSI went up to about 67. MACD went up, but it's still below the zero line. Let's see if the index will reach the previous high of 1113.63 (21/4/2011) in this upcoming week. Today's move makes SET more in-line with the Dow index in terms of recovery than most of the Asian markets. If the index goes above the previous high within the next week, we might have to wonder if we are getting ahead of ourselves, as the rest of the world is still playing catch-up. It could very well be that we will hover in the 1080-1110 area for a little bit as the rest of the world continues its recovery. We shall find out.