STI Got a Huge Swing Today

As I said in previous post, the huge volatility in the market will increase the STI's up/down swing. STI plunged more than 100 points in early morning trading than took a fast rebounce up and closed down 24 points at 2796 today. The up/down swing is more than 100 points.

STI next major support levels:
S1: 2800
S2: 2650

Do expect market continue to be choppy in coming days. STI momentum continue to be weak, it hit its historical low at 43, lower than March 9, 2009 when market at its lowest than recovered. Below is the STI momentum since 5th Aug:

05/8: 73
08/8: 55
10/8: 52
11/8: 43
Any number below 60 is consider very weak.

My STI Advance- Decline (A-D) line also indicated market is far below its "normal" trading range. This is where those smart money start to get in the market.

Although market is at its extremely weak and high probability it would had a deeper rebounce to upside, I will NOT "show hand" rush into it, not forget the big picture is still down. Bottom fishing can caught burnt seriously. Follow rules, follow rules...