STI Set to Open Lower

US market from initial decline turned to a sell-off last night, with 180 points to close at 11,010. STI is set to open lower today.

STI yesterday dropped back to its support 2700, where I consider 2700-2730 as "home", and the wind is blowing south now, this week it opened at 2701, went down to as low as 2627(Mon), wandered back upwards to 2700 then 2730 resistance(Tue), and unable to continue go up yesterday, closed down to 2701(Wed), the bench mark is 2700-2730. I will go for shorts if it go south from"home".

Global market will be looking at Geman's decision today if they approve to boost the EFSF. ( click here for full story)

STI mode: Downtrend, below resistance level.