Loads and loads of work

I think it is not the first time I complaint about not up-dating my blog. I have been very busy lately. Since I can't depend on other departments to help on product promotion, I have to convert my engineers to do so. Knowing how engineers think, I find myself needing to convert their mindset from an engineer to a sales and marketing.

I have to create th presentation for them to conduct seminars, product promotion, and even train them on how to give a speech. The worst thing is that they are acting like Engineers. So what do I mean.

If you are a Sales and Marketing, you are always putting the customers first because you know they bring in revenues. Engineers on the other hand do not have this mindset, there is a certain pride in them that they will think what the customers should be getting. The presentations from the Engineers are very technical and lacks juice to tell the customers, "here, work with me and you get a better result." I think the audience will fall asleep during the lecture.

While I feel bad about stopping on my entries. There are still some good out of it. For a start there has been some development since my last entry.


Fig 1 STI Daily Chart

STI has broken the upper resistant envelop and actually reached the minimum objective of the rectangle. It went as high as 3,991 today before retreating to below the 2,985 objective.

At the same time, it does not look good on both RSI and Stochastic. While RSI has not really shown any divergence, Stochastic did. RSI is also observed to be relatively weak in climbing higher. So are we seeing a retracement soon? On the early stage, I will think so. The break out from the rectangle seems to complete a 5 wave pattern for the move since 30th June. If it is going up it is relatively limited.

While saying that, there is another pattern on STI that I have missed, since I believed so strongly that STI is going for second dip. the move between 4th May till 7th July 2010, STI created a reverse head and shoulder. This reversal pattern result in an minimum objective of 3,131.

So what should I make out of this? A correction is right round the corner, but it is more like a retracement to the neck line presently at 2,879. The completion of the retracement will lead to STI moving to the next level at 3,131. How accurate is this prediction? Is there any discripency?

The only discripency is that the move from 25th May till 21st June being a 3 wave pattern. That constitute a wave A. This followed by a 3-wave B retracement before completing a 5-wave C retracement. This is the alternate view. If this is true, then it is possible that we are at the end of a B wave. If this is so, the next wave C will lead STI to a level of 2,600 base on a swing move.

Some times life's sucks, isn't it? There are always 2 ways to look at the situation and you need to choose which one you trust more. But then both readings have one thing in common, a correction is near.