Losing steam

It was during my days in Polytechnic that I have lunch with my supervisory lecturer who also happened to be the head of Electronics and Communication Department. During the lunch meeting, he mentioned of having difficulties in catching up with Technology and other might catch up to him soon. I did not quite get what he meant at that time, surely as long as you continue to acquire knowledge, you will continue to be at the top of your class, won't you?

Well, it seems that I am experiencing now what he was experiencing then. Although I am going to work every day, my performance continues to deteriorate. Others might not notice ths because I am still so good in camourflaging.

Most notably, my motivation continues to drop because I am not getting the satisfaction I need. I am no longer able to simply pursue knowledge because there are other factors in life distracting my goal. May be the most important factor that cause my deterioration is that my heart is no longer in technology.


Fig 1 STI Daily Chart

I recall my prediction yesterday that STI would open lower which would lead to confirmation of an evening star. Well, I got it right partially. It opened much lower, but continued to climb up throughout the day. Probably to the surprise of everyone, it closed a few points higher than yesterday's open. quite impressive I must say.

So does this mean that market is really positive in anticipation of Lee Kuan Yew's retirement? I think the market wants a change of management.

Anyway, while Stochastic and RSI continue to climb, their position remains high. RSI itself is also tapering off, so there is a weakening in momentum. Therefore, while STI might still climb, it is quite limited as far as I am concern.

Using Fibonacci projection, the resistance and support are at 3,198 and 3,141 respectively.