DJIA, HSI, Nikkei225 and Wing Tai

So finally after 2-3 days attempts, I have managed to up-load my charts on the blog again. I have made it a point to up-load 4 charts at the same time, one of Wing Tai, Nikkei225, HSI and DJIA. One may ask why Wing Tai amount the indices? Well, there is not much relationship really. It is just that I want to ensure the chart is loaded as a record for tracing since my last entry was without a chart and it may be a little difficult to visualize even with my "colorful" description.


Fig 1 Wing Tai Daily Chart

By looking at its daily chart, I waould really consider quite stupid to enter the counter thinking it was a breakout. The triangle was formed AFTER it retreated from the top, this is high chance a "B" waveafter the completion of "A". The logic should be a continuation of "C". Therefore I should be expecting around 1.42 target instead.


Fig 2 Nikkei 225 Weekly Chart

I took a mild interest in this index because among the indices I looked at, I have a feeling that this index is actually tending to go up!. Both RSI and Sochastic are already reversing and the support seems quite good.

Fig 3 HSI Daily Chart

Its funny that people cheer when HSI went up today, or any other day. The thing is that it is one of the up day of the down days. It is still trapped within the wedge formation and half way down to its envelop support. I am still betting that it will break its support and head south.

Fig 4 DJIA weekly Chart

On weekly basis, we can see that DJIA is meeting resistance from both the envelop of the wedge and the downward trendline. I am still measuring around 10,500 as the crucial point for it to break. On daily basis, the same trendline is situated differently and apparently DJIA has broken through. However, it could still be a false break. Both RSI and Stochastic on weekly basis is tapering off at the top. There is a high chance of it going down.