Monday, September 28, 2009

STI Updates

I have a new updated count. This count assumes that we started from Mar 09.

Instead of the traditional A-B-C labelling, I'm now labelling this corrective wave as a double zigzag, of A-B-C-X-A-B-C. My reason for doing so is from the observation of the bollinger band standard deviation plots, the GMMA, and the MACD. Notice how these indicator changes in tandem with the pink lines (or wave counts)?

Taking a deeper look, we see an ascending triangle in play in 2nd B. This likely signifies further upside to come, which will likely result in a expected 2nd C wave. This C wave could possibly bring us to near STI 2960 to 3000 level.

The ascending triangle is also observed on the RSI. A symmetrical triangle (which is nearer to an ascending triangle pattern) is also observed on the Stochastics.

Let's see how this plays out...

No comments:

Post a Comment

Please Comment >>