Waiting for a turnaround signal

Wall St rebounded on Friday but on relatively low volume. Pls do not read too much into the bounce. I am still waiting for any signs of a turnaround in the US markets. That should lift global markets. (In the immediate term) There could be a possible positive rebound on the US Dollar which could in turn be positive for the US stocks. Again, the Dow looks like a huge sideways formation trading between 12,500 and 14,100. Look for a turnaround the support levels of 12,800-12,845 and 12,500-12,600.

STI held its 62% Fibo level - 3,322 last week. A positive sign. Its RSI is also lingering in the oversold region. On the past 2 occasions, whenever the RSI fell below the 30pts mark, the index actually bottomed out. Could this be a bottom here? I think so. Again, this is only a risk analysis. Buying and selling will depend on your own risk tolerance. I believe that HG Metal looks interesting on the charts. It is now trading at S$0.49. Put a stop at S$0.42.

KLCI could find a bottom with the 100-day SMA (1,340) supporting the index. This level should keep the index afloat for now. Keep a look out on the call warrants. HSI-C1, C2, C3 looks interesting. CNOOC-C1 is also on the rise. Sinopec-C1 is another to look out for. Any rise in the index would see these call warrants rally hard.