updates so far, and so far so good

first resistance to watch out for STI would be around 2200. just to take note, 10EMA cutting down 20EMA.

bolinger band is a good tool to use to determine correction points in a trending market. however, i prefer using envelopes over bolinger bands as bolinger bands tends to stretch once the market gets volatile.

anyways, the market today closed above its opening. a sign to watch out. this may slow down the decline or even reverse it. it is anyone's guess. but in my opinion, the reason for strong buying pressure today would be due to eager buyers buying at a weak support at 2265, and short term traders covering their short positions. we may not see another super slide unless something critical hits the financial scene. however, if the market still wavers, then some slight medium term profit taking may set it, coupled with short sellers driving the market down to further its correction.

just a note, the equity market as seen great gains for the past few months, and the correction is highly likely. however, with the underlying economy still being bruised, share prices will most likely readjust itself back to its underlying value.