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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

6/22/2010

Harami on STI

I got my appraisal today by my new boss, past colleague. Not a pleasant one. Seriously, he is asking me to swallow the impossible. I don't know if he even consider me a threat. The thing is that he does not even understand me even after so many years of working together.*sigh*


Fig 1 STI Daily Chart

Back to more pleasant thing, STI is showing Harami! Not confirm yet, still need a down day tomorrow. There are few signs to support a down trend, RSI and Stochastic is reversing, negative Gann Grid Gradient, not to mention the crossing of the moving averages.

In addition, the chart should have completed a C wave with the rise yesterday ( it is a 5 wave pattern ).So the next step would be DOWN!!!!!

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