DJI fell by 125 points last night on anticipation of weak earnings reports by banks and commodity producers.

STI current trading in an ascending triangle and nearing key support region at 1760. We might be looking at some technical rebound today with gap resistance at 1880. Beware if support breaks as we might be looking towards a test of 1470 low formed in oct 28.

Banks and property earnings likely to be worst than expected reflecting the real economic situation. GDP expected to plunge significantly in 1Q09.

Investment counters to note are like SATS or SIA Engg where collapse or withdrawal of weaker players or potential mergers will increase their market share and relieve competitive pricing pressures.

Potential intraday:
Midas @ 54.5
Epure @ 295
maple @ 39.5