Asia Plus Securities flags five warning signals in Thai equity market: index down >5% from 52-week highs, 317 stocks declining faster than rising, widespread weakness (58% below MA50), and intermediate-trend deterioration. However, volatility metrics (ATR at 16) remain normal—not a crash alert yet. Brokers recommend a 4-point stock-selection framework (reward, trend, momentum, foreign fund flow) and identify 6 watchlist candidates: BDMS, PR9, COM7, PRM, TU, and BJC for investors seeking positive returns in volatile conditions.