Supplement: Uptrend?
Today the STI jumped above the top of the correction channel indicating a possible uptrend. Why it is still uncertain is that very often the wave will pull back to the top of the channel. Then it could find support and shoot up again. Or else it may plunge back into the channel. If tomorrow it continues upwards strongly then all is well.
The more conservative investors will wait a while longer before getting back into the market. If an uptrend is in place, there is plenty of room for the STI, and hence most stocks, to go upwards.