An up-date on STI 13th April 2010

There are only so many ways you can create for a title on a subject. I kind of run out of ideas for STI title. So making it a little technical, I put a date to let me know the timing of this up-date.


Fig 1 STI Daily Chart

Base on its latest development, the 5 waves are visible, plus STI seems to be working on the C of a very minor ABC wave. I gather that we should be seeing either a correction or reversal at the time.

The indicators on the other hand is a little bit conflicting. Stochastic is reversing back up while RSI is coming down. If I am going to pick, I will pick RSI.

My last up-date indicated a 23.6% projection resistance at 2,997. It went as far as 2,996 before retracing. I would see this level to be quite prudent for the time being. On the low side, it is still supported by the previous high of 2,947.