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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.

10/13/2013

ST Mid Cap

How should I start with this index? The fact that I am seeing continuously counter waves? This constitute to a major A, B and C waves with exception that A wave is up-ward. Normal practice should be a downward A, so is this counter a on more major counter wave and that the A, B and C is only a much larger B?
 
 
If my read is correct, ST Mid Cap should be on continuation downward to complete its minor c. In a swing move measurement, the minimum objective should be 670.
 
On a bigger move, it is possible that the index is forming a double top with neckline @ 566. If this come through, it will only mean that it will retrace all the way back to below 300, with support at 291.
 
 

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