Yes, the bear has won the battle.

Like I mentioned on 27 May that the bear was eager to enter the stage, it finally did with a BIG Bang! Singapore Straits Times Index (STI) penetrated very far below the 50-day moving average (50DMA) and traded as low as 3057.

Refer to the chart above, the "Red Alert" on 23rd and 25th of May already hinted that STI is shaky. Those seemingly "bullish" sign in the shaded circle is a trap to catch those who insist on believing the bull is still there. Smart long traders would have taken this opportunity to run for exit instead of adding long positions.

Risk takers may take short positions now. But I prefer to stand at the sidelines until the following signs are clear:

1. When 20DMA crosses below 50DMA and;
2. When the immediate support at 3034 is breached.

How about taking long positions? I think you can forget about it.