STI

STI suffered a pullback on 3rd May 2011. With lots of events happening - Elections, US markets facing resistance, high oil price, a correction seen to be inevitable. Month of May has always been a period to avoid in the stock market.

The 3120 support which everyone claimed to be a critical one, may be difficult to hold. I am looking for the index to fall toward 3045. Anything under this point will be a good chance to enter. The channel made the index looks extremely bearish. Personally, i feel that it is not possible for the index to fall lower than 2919 (Previous low). As i see the second half of the year to be bullish, a new low is very difficult. Let's be patient and i post more stocks to be considered to ride the wave.