Barclays withdraw bid for Lehman, this sparked fears of more Lehmans coming along.
As Asian bourses closed - Japan, Hong Kong, China, South Korea; Singapore market will have the pleasure of being sold down first.
Psychologically, poor opening of Asian bourses tomorrow will subdue any hunting activity in Singapore.
Fundamentally, uncertainty and fears still looming giving no reason to assume recovery.
Technically, term support may stand at 2470, but the trend is still down. 1 phase of accumulation for investors but doesnt imply bears have ended.
Feed on the fears, the light comes when market resilient of negative news, leading indicators taking a turn, trend phase change.
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