The completion of right shoulder?

I did not up-date my blog last night, partly because I felt I needed a rest, partly because I felt that it the market would not go far. When I read the charts on Tuesday night, nothing really interested me at all.

These 2 days, I am pretty hooked on "to Catch a Predator" and even googled on the program. I was surprise that it started its first program by 2004 and last episod (so far) was 2007 due to shroud of controversies and attacked by competitor networks.

Nevertheless, I feel that its a good program for deterance and awareness of sex predators online. So even if the producer's aim was the rating, something good came out of it.

I am actually quite surprise that after airing for more than 4 episods, potential sex predators should be vary and think twice before trying their luck on 13 year olds potential prey. They have done a total of 7-8 episods and still people willing to walk into the house without much thoughs. The most memorable to me is not the naked men ( there were 2 ), but the man who brought his 5-year old to look for the "teenager" for sex. What was he thinking?! Educate his son that its okay to have sex with a minor? I seriously doubt that his son would be safe from him at all.


Fig 1 STI Daily Chart

Well, if I said nothing much happened, it would not be very true. STI has broken the envelop, in this case the neck line of a double top (small one) and went south. It tried to climb back up today with opening higher but fell back to yesterday's low.

If it goes all the way of the double top, it would be hitting the minimum objective of 3,118. This is quite coincidental to the present support level of the head and shoulder's neckline and 89 days moving average of 3,119. So I guess 3,119 it is.

While I am pessimistic about the pattern I see, the indicators are at the bottom at the moment and I guess temperorily the down side might be limited. The indicators might need to produce a divergence first before the chart turns.