Friday, August 7, 2009

STI More Bullish to come????

This post is in addition to the previous one, after I had some revelation.

An updated Elliott Wave Count that seems to defy trendlines

I cleared my charts of all trendlines and fibo lines... And I came up with an updated Elliott Wave Count.... A super super bullish wave count...!

We might have just started major C! If that's so, STI has much more bullish to run!
The mother of all bull runs might just be starting!

Supposed major A is from 1455 to 2424, that's a 969 points gain.
So supposed major C started from 2235, assuming that 969 points gain as well, we will reach 3204!

Now, that's super bullish. Let's see how it goes... If this is true, UOB and my remaining 2 CapLand lots will run loose soon...

It all seems to fit into the big picture now. Let us recap Primary A.

Primary A timeline: 9th October 2007 to 9th March 2009
Time taken: 17 months

Within Primary B:
Major A: 3 months
Major B: 1 month
Major C: Let's expect 3 months

That means timelength of Primary B will be 50% of Primary A, and to end on 9th October 2009. 50% is a fibo number. Coincidence? Probably, but October is traditionally a very bad month.

Next, my counts:
Pri B Major A: 1455 ~ 2424 (969 points)
Pri B Major B: 2424 ~ 2235
Pri B Major C: 2235 ~ 3204 (also 969 points?)

Pri B Major B seems to be a running zigzag with 3 waves, and a C wave which is shorter than the A wave. The following running flat example is from elliott-wave-theory.com

Description: Apart from contracting Triangles, a failure in a corrective pattern happens when the C wave is shorter than wave A and fails to go beyond the end of A. This mostly happens in Running Flats and or in Zigzags. It indicates strength in the direction of the main trend.

With the amount of liquidity (in trillions of USD) still around, this is not an impossible scenario.
Wow, if this scenario comes true, my UOB will go very high up. I do hope that it materialises.

Good luck trading!

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