Tuesday, September 22, 2009

STI Updates

For this count, I will take Elliott Wave International's wave 2 expectations into the count, which is quite bullish. This forms my alternate count:

Wave 1: 8th Jul 09 ~ 4th Aug 09 (20 trading days)

Wave 2:
A: 4th Aug - 19th Aug (11 trading days)
B: 19th Aug - 10th Sep (17 trading days = 1.618 * 11)
C: 10th Sep ~ ???

From guidelines:
==> The time taken by Wave B is generally between 61.8% and 161.8% of Wave A.
==> The time taken by Wave C is generally between 61.8% of Wave 1 to 161.8% of the shortest of Waves A and B.

So, C is about 12.3 days to 17.8 days
That means, the end of C to reach between 28th Sep to 6th Oct.

Again, let's break C into 5 waves, where wave i has completed.
i: 2707 ~ 2631 (76 points) [3 days]
ii: 2631 ~ 2699 (68 points = 90% of i) [4 days]

Where will wave iii bring us? Hmm....

And if this count is true, we will be seeing an expanded flat of intermediate wave degree, with subwaves A, B, and C at minor degree.

However, I'm a little unsure because minor wave 2 seems to be longer than intermediate wave B... And I'm not sure if this is allowed.

However, in summary, for short term, STI is going down. At least to 2522 region.

This differs a little from my count below which I expect 1 last rally.

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