STI is in christmas mood

It been a while since august, the stubbon index has been in a slight up trend channel while its RSI continue to show bearish divergence.
Is year end christmas mood men, who got the time to talk about stock. At the moment shopping & buying christmas gift is the most enjoyable event in the month of december.
Wish all of you a merry christmas and happy new year.

STI Move up but weak volume

i mentioned a few times in my early post dated 29, 26, & 15 in Oct to patiently wait & see its trend direction. i had even mentioned that i prefer the sti to break 2745 and i lack of confident that sti can move uptrend. Above chart show everything about my thought, it break 2745 and volume continue to be weak. So far only bank counter which listed under sti component had performed well and at it peak now. Better watch out !!
Non sti component counters so far are not performed well, indeed many of them their RSI indicators are weak.

If nothing worth trying, then i think it is better to do nothing.

Cheers

Creative Technology Long Term Uptrend

This counter has been inactive for about 3 months. And it was slowly & steady formed a symmetrical triangle. When it come to the critical end point, the next target for them to break out is at the nearest resistance level of 6.15.

dow is in 38.2% Fibo Retracement down turn

dow has finally broken down its rising wedge formation last week. Currently i think it has completed the elliott wave 5 since March this year. In order for the equity market to start the next cycle of bull run, we expected a 38.2% fibo retracement from its recent peak as to go in line with the elliott wave theory.
If this is the case then most of the Asia's major index shall follow this down turn soon.

updating of current market status

If you can recall my early post on Oct 20, i said tt DOW is in Bearish rising wedge formation. And exactly on that day onwards it start to fall until now. And it was also follow by the major asia market index to be fall from their overbought situation. In another words our STI also cannot be avoided
Eventhough i am very much to prefer STI to break the stubbon 2745 level that time, however in my post dated 26 Oct, i still cautiously to choose a wait strategy. I have no confident that STI can run out of its danger stage that moment if others index are all having down turn sign. I was right that moment in my decision.
At least we have a better picture now than before and most of the indexes are in their down turn movement. So in the full process of playing with the equity market game, one learnt that the important of "PATIENT".
Will be continue to update u again should any big move is arised base on my TA study.

good day !

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