Strategy for the week 29 Oct 2012 (Singapore)

As a prudent investor, I am staying out this week for the Singapore Stock Market. 

Analysing the STI weekly, the week closed higher than the previous week, but could not break the week high and the 13SMA.  There is no clear direction based on candle formation.  Prices are consolidating at the 3000-3100 range for the past 3 months.
With regards to momentum indicators, RSI is healthy, but the Stochastics is indicating that the momentum of the market is slowing, and likely to fall.  Note the bearish divergence for Stochastics with prices making higher high, while Stochastics making a lower high. MACD is on the verge of a downward crossover.
My long term bias is till in the upside.  However, with the current uncertainty, my plan is to stay in the sidelines, protect profits (I am still long in a few blue chip stocks), and not to buy Singapore Stocks this week.
Only trade when the edge is on my side.