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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.

2/22/2011

Fighting Hypertension

I have been a little lapse on my charting lately. I have earlier on mentioned of having hypertension and on medication. It was a life changing experience for me. Lately I am experiencing the negativity of the drug that I have taken, migrains, weak muscle especially the upper arms area, sleepiness and easily letargic. My heart beat has been especially sloooooowwwww lately, below the 60 pulse level while blood pressure looks okay.

Turn out the drug known as beta blockers works in the way of reducing the heart beat to control the blood pressure. But the side effects definitely is worse, worst is that the drug is not a cure but a controlling agent. The blood pressure will again shoot up once you stop for 2 to 3 days.

Since then I have been researching any altrernate ways to tackle the issue. Seems like I need to pump up my exercise routine and watch my diet. It is made worse because I am a salt person, and I need to remove all sodium contents from my diet. Well, we will see how it goes.


Fig 1 STI Daily Chart

Speaking of Beta Blocker, STI certainly seems to have taken the same medication as I have. I recall my last entry that it is heading down, and it is.

Placing a Fibonacci Projection at second wave and third wave, level of support and resistance is derived at 3,009 and 3,044 respective. While I expect it to fall, the plunge ( with gap down ) is much more dramatic than I have thought.Not only the previous high failed to support the index, it is now the resistance.

Base on Gann Grid line, there might still be some distance to go. Next support level is 2,910 other than the Fibonacci's.

In longer term, STI does not look good, the 21 days moving average has just crossed the 89 days'. It kind of signifies the beginning of the end.

The funny thing is that Goh Chok Tong just mentioned on news that there is no U-turn on growth policy, not that I don't support. The thing is that STI does not agree with the policy and it is doing a U-Turn on its growth now.

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