STI and HSI reversing!!!!

Today at work, I am reverting back to my old task as Field Application. I was practically matching products to the customer requirement. Somehow it feels much tougher than the last time. May be age is catching up, or that I am getting more sick of this job. Is this also a calling for me to be on my own? No one is ready until the take the first step. But then, we are on a verge of another recession and if I am to go out on my own, it has to be at the bottom of the market so that I ride it all the way up.

On my last entry of HSI and STI, I was predicting their reversal. Again I am quite right about the prediction but the timing is always off by one to few days. I have to admit that the timing issue is always a weakness of mine.


Fig 1 HSI Daily Chart

HSI has finally come down, not only that it gapped down in order to break the envelop support of the wedge. I would expect this to be a zig zag pattern which lead it to head lower. The wedge objective is 20,271. However the Zig Zag move will lead it to 18,161(?). Now this level is definitely a little hard to believe, for the moment, let's just see how it goes.


Fig 2 STI Daily Chart

Likewise, STI has broken downward. It isan island reversal but no formation to measure its objective. Slightly different from HSI its retracement is almost to the top. Such move has a tendency to lead to a retangle formation, if its low is supported at 2,665. At the same time, I also see the danger of this moving lower, thereby creating a double top, the result would be worse with objective of 2,378.

But then it is good for me, isn't it? Afterall, I have 0 portfolio at the moment.