Referring to the weekly chart of Singapore Straits Times Index (STI), it is going to test the crucial support at 2746 very soon. With the local market in the oversold territory of late, 2746 support level is likely to be a strong one.

But if 2746 were broken down, it will be "all hell break loose". The downtrend will continue, further confirming my belief that The Bear will stay till Oct 2009.