Market Analysis -- 23th Jul 11

STI appeared to broke out from the triangle formation at 3,173 but the volume has been declining as STI moved up, that is not a very positive sign and may start to create a negative divergence.  A negative divergence if form and valid will lead to a correction for STI next.

Also need to monitor for RSI and/or Stochastic negative divergence with STI.  At the moment, no sign of that but if that does form will be very bearish for STI next.