Friday's non-farm payroll disappointed the markets, triggering more than 200 points dip for the US market. S&P fell back down below 1183 support but on significantly lower volume. There is still plenty of uncertainty and any of the cards (US Bank Failure, Greece, US economy) can potentially trigger yet another round of sell down.

For STI, the earlier days of the week is likely to be down, and i suspect the recent uptrend support will be tested. Watch for a break below the support on heavy volume- if the day closes back positive, this is a bullish signal. The reverse scenario will be a retest of the 2700 lows. The outlook for next week is certainly not bullish yet, hence i reiterate sideline or short.

The next act should be unveiled soon if QE3 takes the headlines. The move should be viewed positively by the market as it creates more ......