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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

7/13/2006

The Narcisistic Singer



The Narcisistic Singer

Watched her singing on Mr Brown's web-site and got interested in knowing her a little more. So I searched through Youtube on her video and came across this. I find it quite entertaining. I am testing out to see if I can paste the video onto my blog.



Fig 1. STI Daily Chart

I have been a little busy lately, my wife is now close to 8 months pregnant so need to do more work ( gosh... our love nest is in a mess ). I have chosen to up-date the STI once every two days. It seems to me that slowing down does help a little more in my reading.

After a gap of one day, I see some new development in STI. It has now created a reverse hammer when at bottom indicates a reversal up trend. However, confirmation is needed to be assured that this is true.

So far RSI and Stochastic are both faithfully guiding STI downward. Both the indicators are at the bottom but have not yet indicate a reversal. So would tomorrow be the cause? In recent past, the level 2,398 has been a pit stop for STI, so it is no wonder that it stop near by the value @ 2,396. I am looking forward for STI to rebound at this area. Already, the volume that took much difficulties to re-appear seems to disappeared again ( on a down trend ) so the up trend is not yet over.

Anyway, we shall see tomorrow.

1 Comments:

Blogger TopTrader said...

STI - A small double top (dt) has been broken down effectively. NL 2400 will cap any short term technical rebound. Wave C may have started.

Note that Nasdaq has started wave C since its wave A low has been broken down.

Singapore market - Not suitable for buy or bottom fishing until a bottom formation forms and breaks out with heavy volume.

9:12 PM  

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