Market (STI) Comments for Week of 1 July 13

If you refer to my last posting, the support of 3,055 was well respected. The STI was lowest at 3.065 on 21 June 13.
After the whipsaw last week, I would advise not to take on any swing position of STI component stock unless the index moves above 3,205 and stay there. This must be couple with crossing of 5 and 13 EMA. The index is still rather weak now. The new support is now at 3,140.