I feel like blogging....

Yes, I wrote earlier that I want to rest my keyboards for a month in my last entry. But today, I felt a compulsion to type something. No, it is not because the market has come down, although STI did come down quite a lot, so do the regional market.

I feel like blogging because there is this energy stuck in me today. I have to write an e-mail to a customer to put a ful stop to a project. This is a nasty customer who adhere to no rules, wreckless in his direction with no marketing strategy for the end product. Worst of all, he thinks everyone has to listen to him. He has no loyalty at all.

Just last Friday, he just sent me a photo with the whole board burnt claiming that it failed in a cyclic test. Does he think that I am born yesterday? It was clear that he overloaded the circuit. I mean the component exploded! So just a warning here. Don't buy any LED CFL replacement Lamp produced by a Malaysian company with address in JB.


Fig 1 STI Daily Chart

Since I am blogging, I will write about STI today. I won't be jumping up and down claiming that the end is here. The last few times I did that STI went further up every single time!!!!

The day I stopped was the day it hit 38.2% Fibonacci projection. It seems to me that this is more crucial than 23.6% and there is a higher chance that the counter will turn at this level.

STI gapped down today creating an island reversal. It is now supported by its short term trendline at 2,953. Tomorrow the level moves up to 2,956. Both indicators are coming down so it is likely to break this level.

STI is also moving towards the negativ gradient of Gann Grid, which more or less explains its pressure to go down.

The support level again is 2,947, resistance 2,996.