Indices Are Not as Bad as We Could Think

The US debt limit raising before deadline 2 Aug, four PIGS in Europe no signs of recovery, etc...Many bad news flowing out continuously. I have learnt to ignore 95% of the "news", and try to stay as objective as possible with the real market.  I see general market is weak but still holding right now.

SPX: Support 1- 1307, support 2-1296, downside limited.

STI: Immediate S/R: 3069/3100