It has begun......?

Past weeks have been very dull, I cleared all my positions believing that either a correction or reversal is due. After I sold my last lot of Fuyu, the index was still undecided of its direction.

At the beginning of this week however gave me a different feeling, it seems like something is going to happen. There were much anticipation of an up-trend (as seen from Channel News Asia's forum) but it kept failing to break new high. So probably I might be seeing either the correction or reversal afterall.

Today, the market tumbles. STI went down by 40 over points. The indicators are all pointing down. I guess the reversal has begun.....or may be not. But one thing for sure, we would at least be seeing a short term bear. Support for STI is presently seen at 2,541-2,521.