Straits Times Index have reversed its uptrend. More downside is expected. Ben Bernanke’s speech did impact strongly on the market sentiment last week. Coupled with weak data from the China and Japan market, market participants were very eager to exit the market. The week started off with an attempt to rebound, but the 20ma resistance at 3410 level provides to be a strong resistance level where bearish sellers were waiting upon to clear their positions. Shortists were also attracted into the party to push the price down. Wednesday was the key turning point day where there was strong selling sentiment as the resistance was unable to break. Many feared that more downside is to come and quickly exited the market. These people were right as STI indeed experience further selling pressure for the rest of the 2 days. Eventually, STI ended the week at 3311 level with 81.8pts down ......