Daily Markets Briefing: STI up 0.2%

But a pullback is expected today.

According to OCBC, the sharp retreat on Wall Street overnight is likely to spook the local market to a poor start this morning.

Here's more from OCBC:

As a recap, the STI continued to inch higher in the direction of the 3460 key peak with a 0.2% gain yesterday, albeit signs of a slowing upside momentum.

With sentiments likely to take a turn for the worse today, we could potentially see the index initiating a technical correction back towards the 3390 newly established resistance-turned-support.

Below that, the next base lies at the 3360 key resistance-turned-support. On the upside, the subsequent resistance is pegged at the 3500 psychological hurdle.