Wednesday, September 23, 2009

STI Updates

Quick update:

My counts have been revised after yesterday's price actions. Elliott Wave International's original count now seems wrong as well, and they have revised it.

Instead of an extended wave 2 which seems weird to me at first, it could well be a 5th wave before a crash.

This is in expectations and in line with my own primary count.

When both primary count and alternate count reflects the same conclusion, it's indeed time to be careful. Be very very careful. Furthermore, multiple divergences have been seen as well.

It could be likely that this last rally is for the 3rd quarter's window dressing. October would be an ugly month. I will be selling my Unit Trust (First State Dividend Advantage) within these few days...

Will post one more chart tonight to reflect this.

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