All in a day's work

After so many days and weeks of going down, STI and in fact global markets finally "see" some light. In fact, this rally that'd happen took me by surprise.

1. It happens just after America decides to bail out AIG.
2. 2 of the top Investment Banks in the world liquidated.
3. Top banks are still looking for solutions to prevent liquidation due to their credit issues.

The million dollar question, is this sustainable and will this spark another bull run. Personally, No.


The fundamental issues are still lingering and out world's financial big boss is really in some sort of debt concerns. Printing $ and absorbing bad debts is definitely not the long term solution, or am I missing some important knowledge here, if so please enlighten me.
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Technically, as seen, we finally saw HUGE buying up. It's a positive sign, finally but still we need to watch for the resistance level at about 2770, the small gap formed about a month ago.

From the RSI, STI has been in long oversold, but then again, this is no reason to assume that a rebound is at hand, then again, it's is just another indicator that a rally, big or small, COULD be here, it's just when.

Any other technical information can be intepreted from the chart posted.