Red Flag For Bulls

Straits Times hit its 200dma with a big, long black bar. What does it tell me is this: a break below this level means further downside on the way. I have seen many counters -- the big ones, blew away their support in past three days.

Here is my words: A rebounce from here offer us opportunity to exit our long positions. Any long candidates mentioned from now on will be extremly short term and counter trend play. Upside is capped at 2888, while I'm watching the long term trendline show in below pic as the last straw for bulls.