STI movement

Triangle formation is formed again. Breaking out of the top resistance line will see another bullish run but falling through the bottom support line may see another correction.

Base on Gap theory, the gap formed during 21~22 Mar 07 need to be covered. If so, meaning STI may fall through the support level to around 3157 to cover the gap.

Till date, STI has not complete the wave formation dervied from Elliot wave theory. With above theories, I'm currently watching very closely on the market. I'm slightly more bearish than bullish for the time being. Will see how the market goes.