test4

Thursday, May 21, 2015

Simple Update on STI

Recently I sold 2/3 of my holdings of SGX at a price of 8.72.

My simple and quick analysis on the chart of STI still looks valid.
I did a zoom in of the past few months to see if the conclusion coincides.

Based on the assumption that the current wave is a motive wave (Elliott Wave Theory), it seems that my target for a correction around 3rd quarter of 2015 will still stand.

The horizontal line is about 3650. It comes from a interim top just before the top of 2007.



The first wave is about 210 in height. If the 5th wave is about the same as the first wave, which it normally is, then we should get about 3636, pretty near to the 3650 target.

I will still play cautious for now.


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