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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.

9/06/2013

ST Cons Goods vs ST Technology

I am also looking at 2 different indices, below is  ST Cons Goods, I figure it is consumer goods. This counter has taken a heavy beating and is already fulfilling its double top objective. Seems like consumer goods in Singapore has not been doing well at all.
 
There is another index ST Technology (no, not from Singapore Technologies). This seems to be doing the opposite. IT has completed its double top objective. Not only that, it has formed a double bottom mirroring the Double Top. It has presently met its objective and is facing a resistance from the Gann Grid lines. I have also calibrated the Gann Grid to be more precise and surprisingly this is now blocking the advance of ST Technology. I would expect at least the next few weeks that this counter would be moving south.

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