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Monday, October 26, 2009

STI movement



My early post dated Oct 15 had mentioned that STI need time to firm up its next direction move. True enough from my opinion and we ready have waited for a week.
In fact if we look at DOW, NASDAQ or S&P, they are in down turn position. And even asia market index such as Hang Seng, Nikkei or Shanghai EX are in their overbought situation.
But somehow i hve feeling sti may want to react differently. Their strong resistance at 2745 and they want to break it. But before anything can be happened, my strategy still wait. I position that sti now still have not out of the danger stage yet espically other major index may go down move.

Cheers

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