-.sentiment is terrible…not only the mkt met with sell-on-rebound, sell-on-weakness took centre stage again in PM. No thanks to HS “u” turn, then Europe provide further punch with -1% actions. DJ futs gave up after 4pm, 30. No fresh news – just “resumption” –banks and commodities stocks were the biggest casualties
-while many are aiming for bargain after a 4-day-40-points slide, do take note that technically, it remains a strong sell mkt , bears are aiming at mid Dec09 lows near 1250++, about the same as 100SMA (1254) before taking a pause.
-rather buy on strength…immediate resistance is lowered to 65-70. Below this range, long is a huge risk to take.
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