STI hitting resistance

I have gone off line for a while as the market looked quite depressing. By depressing I mean very little progress, regardless up or down. Instead of daily check on the market, I am now doing it on weekly basis, seems like I am not missing much at all.

I have written about STI earlier with suspicion that it is going down. For the time being, it is still in a "b" congestion and the lower lows with no divergence noted on the indicators. seems more signs of down trend to me.

STI is also facing 21 days and 89 days moving average resistance. More over, it has broken through an up-ward support trend line on week of 24th Jan 2014. This trend line was tested 2 times before finally broken.

I think we would be expecting more hardship coming. But base on past experience, the economy won't even experience the effect until the index at the bottom.