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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.

1/25/2011

Continuation

I am referring to my cough. It seems that after more than 1 week, 4 rounds of doctor (inclusive of one Chinese sensei), I am still coughing. I just wonder how I can get rid of my cough. I am still coughing every now and then, although it is not as serious as earlier times, it is still irritating.

As for the blood pressure, I did some read up on the issue. The one very reason why one cannot stop the medication is because no one knows if the normalization of the blood pressure is due to the drug taken or body healing. Therefore there is a tendency that the blood pressure will shoot up if medication is stopped and as a result danger of stroke.

I have talked to a colleague today, I estimated that he is a likely candidate of hypertension because of his obessity, of which I am correct. He mentioned that he did made a stop for the medication for about 1/2 year once. But there is a strange feeling (which I did not verify) and a sense of danger on his health caused him to start taking the medicine again.

So if I am to stop the medication, the first step is to find ways to really reduce the hypertension, take the remedy with the drug simultaneously and then slowly substitute the drug with the remedy. It will take a while for this to happen and I have put my plan into action only after CNY.


Fig 1 STI Daily Chart

It has been a while since I last read a chart (since last week), there were some lost data between 1st of Jan to 12th Jan 2011. I am not sure what happened during that period and I am hoping that it is a flat instead of protruding up, it will make quite a difference in terms of wave count.

So far, I see that both RSI and Stochastic is at the bottom and they are about to turn. But if I base on the theory, strictly speaking, I still need divergence for confirmation.

The pattern it is developing on the other hand, looks very like a downward flag, and this would mean a continuation to 3,146. Basing on wave count, this would be a "c" wave.The objective coincide with the present position of the 89 days moving average.

Just a spare thought on the issue. If base on my original estimate of wave count, we should be in a major C by now. If this is true, what's happening now is only the tip of the iceberg, there are more downside to come.

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