On 26 Jul 07, STI has fell below the bottom support level at around 3599 and that signal a start to this current correction. A gap was formed on the next day and was covered up on 31 Jul 07 before moving further down.
Currently, STI is supported at around 3399 which is the 38.2% retracement. If it continue to fall below this support level, the next support level will be at around 3309 (50% retracement).
I'm currently staying out of the market, not even shorting as currently I'm unable to observe closely to the market.
As in when to enter, I'll wait for the market to recover and base to my entry signals.
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