Downtrend

Personally I find the 50 days moving average a clearer signal compared to 20 and 200 days.

Using the 50 days moving average, both S&P and STI are clearly in a downtrend since Aug 2011.

http://sg.finance.yahoo.com/echarts?s=^STI#symbol=^sti;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=1;logscale=off;source=;

http://sg.finance.yahoo.com/echarts?s=^GSPC#symbol=^gspc;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;

Better to sit tight and wait for reversal before picking up more stocks.