Sad sad day

I am feeling quite sad today, while filling with anger yesterday. Mainly because Mr Brown's article landed into trouble with MICA. The article concern is "Singapore is fed, up with progress" which was published in Today. I read through the article, personally I feel that there is a little taste of politics, but hidden behind the article, he is angry with all the price hikes. He feedback that his life got more difficult when making ends meet as a result.

My anger came about when I read a response from Ms Bhavani from Ministry of Information, Communication and Arts. In disguise of rebuttal of his feedback, she made much attempt to discredit Mr Brown, as a result performing character assasination. The letter gives me a feeling of totally apathical to others feeling, with a message that tells us not to feedback any hardship unless we give them solution at the same time. So what is the purpose of hiring these people when they instead ask us to solve our own problem, which I see is a national issue.

Then came the suspension of Mr Brown's column on Friday. I don't really blame the Newspaper as they need to do repair work to "satisfy" the authority. It sadden me to see that while Singapore is growing, the Garment become a factor that prevents it from jumping into adult. It is really a sad, sad day not only for me, but for Singapore.

Anyway, anyone who is here may not be interested in what I have said earlier, but more on what I see from the chart. Anyway, I thank you for your patience in reading my feel on the issue. So far I believe that I am about 60-70% accurate in reading the chart. I admit that I still need improvements in my reading.

Picking up from Tuesday's reading. It seems like STI is trying to cover the gap and is stopped by the 21 days EMA @ 2,401.There are also the famous support line of 2,398 and a 21 days EMA @ 2,396. I would say that it would have completed its low for the time being. On the high side, it is resisted by 2,451 but the good thing is that it is now support by a 89 days EMA @ 2,437. In lay man term, it seems that today STI is rather firm with only trouble of breaking 2,451.

With both RSI and Stochastic attempting their second peak, I am quite sure that it is going to be broken upward. My target for 2,482 should still be intact, 2,500 might be a little far fetch, but let us monitor further. Now I feel that there should not be much worry on its general direction, simply because on its weekly chart, both Stochastic and RSI is coming out from the bottom and moving upward. So It is still quite safe to say that 2,500 is possible.

Of course there are always two side of the story. What if it fail, when would I think would be a good level for me to gauge that my reading is wrong? I will take 2,372 as a que as it was the past resistance.