Just had a really long day.
As of now, 1.52am, the Dow Jones is just down by 2 points.. together with the rate cut from Europe and Hong Kong. This could be the start of the rebound that we are waiting for. This is purely from my experience in the market and has nothing to do with technical analysis.
I feel that this is just a rebound, as with all the other previous rate cuts..this serve as a short term solution, and even the rate cuts will need a few months to have a direct impact on the economy. Essentially the cuts solve the symptoms, however the real problem will still need time to be solved. Hence actually, the TA of may 09 might actually coincide with the time where the companies are able to complete their write downs and restart their profits
I don't advice to go long, but keep a watch out to when it will be relatively safe to start shoring.
Also i am keen on going into Futures, though most probably only the STI futures first, as I don't really understand how the rest of the markets and commodities work. The link to the rough explanation can be found here : http://www.sghousing.com/2008/10/05/bull-or-bear-market-you-can-make-money/
The Strategy would be to short the market using the set of rules that i came up with using the simulation that i ran using chart nexus.