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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.

11/15/2010

My daughter's birthday

Its my daughter's birthday today and we celebrate at her kindergarden. It is strange that things are so different now. When I was her age, I practically did not know when my birthday was, let alone celebrating at school. I did vaugely recall that I went up the stage at school on my birthday month with a whole lot of other kids, the school just sang Happy Birthday and that's it. Now the class has a party when its someone's birthday.

Another interesting part of my daughter's birthday is that the birthday girl or boy is the one who give presents to everyone on top of contributing the cake. So it is from parents pocket that the presents were bought.

One interesting fact is that Buddhist do not really consider birthday something worth celebrating. Buddhist call the day the Parents Suffering Day. This is true especially for the mother, hours of excruciating pain and risk of death just to give birth to a new life. Seriously it is not really an easy life having children and that is why a lot of people nowadays decide not to have kids.

There is however reward in having kids. One would really enjoy the attachments, the attention seeking of their children. They give you a sense of pureness as a child and interacting with them makes your mind works.


Fig 1 STI Daily Chart

Well, it is also time to make my mind works. My last two prediction aren't really good, the market have been on the opposite end of my prediction. The thing is that I am reading the chart and can only interprete what the chart tells me. There is never a 100% accuracy, irf there is, I would be a Billionaire right now.

For STI today, both indicators are heading south with exception that RSI seems to have a tendency of reversing. This coincide with the Gann Grid line which is crossing from negative to positive region. In fact, STI is today at the apex. No only that, it is close to the support resulted from the previous high of 3,220.

There is a tendancy that STI is reversing up by tomorrow, its recent down turn is to fill up the gap it has created. If base on the gap measurement, it should be reaching the 23.6% Fibonacci projection resistance of 3,345.

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