Bears are In Absolute Control

STI broke down 2850 short term support today and continue heading north. Market momentum is bearish, the Greece problem is really worrisome. Any rebounce is short-lived. It's not time to "buy low sell high" for the bulls, as today's low will be tomorrow's high. It's not a bottom yet... As you can see from below STI 60mins chart, STI even had a hard time to close above its short term 22 pma(period moving average).

STI support levels:

weekly S2: 2827
weekly S3: 2779

50% fib: 2821
61.8% fib: 2770