Further Down
[First my apologies. If you logged into lhwong.per.sg you would have got a message that the server could not be found. SGNIC has decided to terminate all .per.sg domains due to low usage. I had to transfer my website to a new domain: lhwong.com. Due to delays caused by technical difficulties I was unable to post a notification about the change of domain before lhwong.per.sg was shut down. However I am glad that you have found my website here and can continue following my blog. Sorry for the inconvenience.]
The STI had a huge drop today with a gap down. Although it has neared the 50% retracement, the very pessimistic mood will likely cause it to drop to the common retracement of 61.8% which is shown in the chart. We just have to hold tight.