Seems that most stocks on the SGX are bouncing off their 50day moving average. The STI is displaying similar traits. Although overshooting a little, it looks like the bounce back up is coming soon. Furthermore, Stochastics already seemed to be turning up as well from oversold territory and likely to intersect.
A comparison to other countries show that most of them are displaying similar bouncing characteristics. For example:
US
S&P 500
Dow Jones
Nasdaq
Hong Kong
Hang Seng
China
Shanghai Stock Exchange
My take: With the upturn of all these countries, it does look like stocks here are likely to turn upwards soon, possibly by next week, and thereafter head higher. So if you're looking to buy stocks, you had better do so soon when the next entry price presents itself before the correction's over.
Good luck!
~K
