STI false break

Okay, I did not brag about my day in my last entry. It was because that entry was not intend to be the first entry today, this is.

So I am going to brag about it here. But what to brag about, work was relatively smoothly but slowly because I have to depend on others to achieve my objective. The only thing that I would brag is "Damn! BN won Ulu Selangor!"

I was expecting this to happen although I am disappointed with the loss. BN simply throw money into the constituent to buy vote, and base on Anwar's calculation, they have spent RM65,000 on every 48,000 residents in the area. That was quite a big sum!

BN should really learn from the Singapore Government, they never spent so much, only a few hundreds a person and they gain majority of 66.6% with 82 out of 84 seats. Thge best part is some people actually are grateful to the Government's generosity.


Fig 1 STI 5th wave
The move that STI has done last week constituted a false break on its short term trendline. By short I mean the trendline support for 5th wave alone. False break means a high rist of the index coming down. Nope, there is no pattern yet to indicate objective, just the high potential of it coming down.


Fig 2 STI full 5 waves
If I zoom out the chart and draw the trendline from the bottom to the top of the chart. You will note that it is still well supported. There is not yet any false break, but the index is coming close to the trendline. So watch out!

The indicators are shown t be at the bottom or at least close to it. However, there are times when indicators stay down for quite a long while. we still need a divergence to let us know if it is reversing.