The 50-50 chance

Remember the female Indian Engineer that I mentioned much earlier? She is getting bolder after noting that with all her behavioural problem, no action was taken against her.

She has been applying for "urgent" leave recently, all taken on the very day. The first was a visit of relatives from India, then medical check up. Today it is to work on personal issues.

Seriously speaking, If there is a relative from oversea visiting, won't you bother to plan your leave to make sure you have time to accompany the relative? If you are scheduled with medical check up, won't you plan in advance the necessary leave to make sure it is approved?

She did not even bother with elaborate excuses today. She simply applied 1/2 day leave after lunch and went off without informing anyone at all! The leave excuse is "personal issues". I am sorry but for urgent leave, I requires proper explanation to pass the bill.

She must be thinking I am an idiot not to notice the frequency of her leave application. She is looking for job. If she manage to get it, good ridence! Anyway, she has nothing to lose at all,I am already making sure she is not going to get her bonus other than the 12.5 months ( yes, 12.5 months due to flexi-wage policy, no thanks to our Singapore Government). If fact, if she stays beyond January, she is going to get a nasty appraisal! I have always been going by the book, reward the efforts and punish sabotages. It will be no different this time.


Fig 1 STI Daily Chart

After reading the the weekly chart during the weekend and a brief look at the daily chart on Monday, I took a night off as my relative from England was here, we have a sumptious dinner at Vivo City.

I looked at the daily chart today and find it a little difficult to decipher. Primarily the indicators are at odds with supports and resistances. Both indicators show strong momentum of an up-trend (indicator wise) so it tends to lead STI upward. The only weakness in this is the lack of divergence.

At the same time, STI is now resisted by the 21 days moving average at 3,184, it is also situated at the apex of the Gann Grid lines. SoI guess its 50-50 chance of up and down.

While I felt that the wave seems to be short of the 5th of 5th wave, I am at the same time finding the last 2 days pattern to be more like a 3 wave pattern, but thenI can't confirm this yet.

What give me more confidence of a continuation up is the trend line support that I have drawn on STI.My teacher said before, if you have three points touching the trend line and rebounded, it is prudent. So the recent event see STI touched the trendline (in Blue) went mildly below and came back up today, this likely to qualify for a false break. There might still be a change of 3,400.

If however, it decides to go south, the neckline support at this moment is 3,121.Breaking this is likely to confirm a continuation downward.Further south is 89 days moving average support of 3,102.