Are the bear waiting for chance to strike?

On 17/Mar, Singapore shares ended at their highest close in nine weeks after the U.S. Federal Reserve promise to keep interest rates low for an "extended period" and the Bank of Japan's decision to ease monetary conditions further.

The benchmark Straits Times Index ended up 0.8%, or 22.87 points, at 2,919.30 with HIGH VOL of 1.70 billion shares compared with 1.14 billion shares Tuesday. In the broader market, gainers outnumbered decliners 370 to 145. Overall for STI, it is a huge breakout from 2900 resistance at HIGH VOL to confirm its upward trend.

However for US market, things might get a bit tricky. With volume unusually low for this time of year, should you strike while other investors sleep?

If you study technical analysis, you are likely to know that S&P has broken above 1150, an important technical level which is typically a bullish sign.

But there’s one problem – the gains happened during a period of low volume.

On Monday of this week 7.29 billion shares were traded across all U.S. exchanges, the third lightest day this year.

And last week the NYSE experienced its 8th lightest weekly volume in the past 6 years, according to Todd Gordon of Forex.com.

Clearly the bulls are pushing higher while the bears are sleeping. Should you strike now, despite the lack of conviction -- or are the bears about to let loose their fury?

Immediate resistance of S & P 500: 1200

Immediate support of S & P 500: 1150