I wonder...

I was clearing some of my leaves since Thursday, coincidentally it was also my daughter's graduation ceremony. Her class was to perform a dance to the teachers and parents. The dance itself is quite up to standard, for a K2 class that is.

I also spent my Friday with my kids, the school was closed to rest after the graduation session, so I brought them to watch Rapunzel, my daughter loves it, my son likes it and I am quite facinated by the 3D effect. The bad thing though is that you need to wear the glasses, and the tickets cost SGD14.00 each! So for three of us we have spent SGD42.00 for movie alone.


Fig 1 STI Weekly Chart

This is the weekly chart. If I base on the indicators, what I have is both Stochasitc and RSI heading south, meaning that there are more down side to STI.

I am a little confuse though. The recent dip looks more like a 4th of the 5th wave. The dip in April looks like a simple 2 and this a complex 4th. So base on this analogy, there is a chance for STI to go higher still, one more shot before it fizzles out.

There might still be a chance to hit 3,400. which is around the point of 23.6% Fibonacci projection. Its support on the other hand comes from 21 weeks moving average of 3,084.