SSEC, a very short time frame for exit

I wonder at times, "why do I write my blog?" I mean I am writing something here, revealing my thoughts to people whom I do not know. Isn't it a little bit dangerous because you don't know what people will do to the information that you give out.

I studied Electronics Engineering at school and language was not my strength. I have bare pass in my English during my "O" level and I struggled through my essay. Writing has never been what I want to when I first came out to this real world.

I guess writing blog is a way I can let out my emotion. It also allow me to be another person, going into a virtual life. For one thing, there is not much plan when you write a blog, you just let your feeling flows (sound a little like Star Wars, isn't it?).


Fig 1 SSEC Daily Chart

I was going through SSEC and noted the plunge. In fact when I check up the Forum this afternoon, people were commenting that it has gone down 4.5%!!! This is huge. Looking at the chart, the indicators give very little allowance for people to react. It was only last Thursday that both RSI and stochastic reached their peak, indicator reversal on Friday with divergance declared. There is almost no chance for people to get out if they have not done so last week.

SSEC only stopped at its support of 2,981. Its RSI is already at the bottom, so most likely it is slowing down in the short run. The good thing is that the Gann Grid is on positive gradient, so there is a possibility that the gradient will support an upward movement. Noting that the US DJIA is more or less stagnant for the time being, probably SSEC will be moving higher tomorrow. But that does not mean the worst is over. It could still be a retracement and it will head further south after that.