No selling climax yet?

Today, CIMB wrote this article, warning investors that the selling is not done.

"The S&P500 Index touched 1,258pts last Thursday, just 9pts from the Mar low of 1,249pts, before bouncing back by the end of the week. A break below the Mar low would be a bearish sign. We are looking for some signs of a selling climax over the next 1-2 weeks before the index can bottom out in the near term. Last week, the MSCI Asia ex-Japan did penetrate its support trendline at 555pts, which has become the resistance. Its 200-day SMA at 559pts also caved in. The key support level remains the Mar low at 525pts, which, if broken, would be very negative for the index. Indonesia's JCI broke below its major support trendline at the 3,740-3,750 levels at the end of last week. The weekly MACD also confirmed its bearish "dead cross" last week."

Shortly after, The MSCI Asia Pacific Index jumped 1.2 percent as of 3:03 p.m. in
Tokyo. Futures on the Standard & Poor's 500 Index added 0.1 percent, while those on the Euro Stoxx 50 Index increased 0.5 percent.

Moral of the story? Do not wait for the perfect buying opportunity because we will never know when it will come.