Singtel

I think it is good to look at the index stock. At least it allows me to understand what the components of STI are. Even since the first time I was introduced to technical analysis and stock market, I have never thought of focussing on the index stock, probably bacause I think they are expensive and return not as great, even though they are relatively stable.

Today's counter is Singtel, although I came to regret my decision, because Singtel does not properly conform to standard technical pattern. This makes me wonder who the players are in Singtel. I know at least 1, Temasek Holdings.

It is also funny that Singtel was on the down trend since its listing in the early 90s, reversal came in 2002. The stranger part of it is that even since its reversal, it maintained a 3-wave pattern.

The most recent move since end 2008, it continued to exhibit a 3 wave pattern. So if I use the swing move to measure Singtel, it might have just completed its objective. Now if I consider the first peak in 2007 and 2013 being the second, there is a divergence in Singtel. It indicates the possibility of a down trend for this counter.