The STI is +0.6% at 3,255.43 after good US economic data Monday buoyed Wall Street, though market breadth is neutral with about 1.3 gainers per decliner vs 2.5 to 1 earlier.

Volume is robust with 1.50 billion shares worth $1.09 billion traded.

UOB KayHian says price action has turned positive from neutral after the STI broke through resistance at 3218 yesterday and has continued to trade higher.

“We expect this resistance will thus turn into a support and act as a spring board for the index to leap higher. We recommend a ‘buy into weakness’ stance as momentum to the upside gains and the MACD indicator remains bullish.”

It tips support at 3,220 with next resistance at 3,300. Most STI stocks are higher, though only a few rise by over 1%. NOL (N03.SG) is +3.1% at $2.31, Environmental (LS9.SG) is +12.8% at $0.265 and Top Global (519.SG) is flat at $0.015.