Yes for short term traders, but no for investors. This is unlikely to be the true bottom yet, based on my observations during the 07 crash and the 09 bottom. While the points for the positive trading days look powerful (40-60 points) and are out of the usual STI range, it is important to bear in mind the 100+ points sell down earlier. The market is emotional and the trading ranges are amplified, so the perspective must be taken into consideration. The rebound so far has been on low volume, similiar to the S&P on the US side. Short term traders may be able to gain a quick buck buying into oversold conditions, but profits need to be taken quick. I will move on to the S&P chart to discuss my rationale behind the statement.
Is it time to buy?