Noble Group Technical Analysis

As we can see, Noble broke the multi-month channel support, and is now supported by the 100 MA. If the 100 MA breaks.... next support would be at the 2.50 region, the previous low (not indicated in chart). By then, the 200 MA would probably be around the region as well...

Let's see how it goes on from here. Obama's speech is clearly bad for commodities and stocks related to it.

Any rebound will likely be capped by the support likely turned resistance channel.

Never Give Up!

Whenever you feel like you will never make it, think back of this video and don't give up!

Introduction to Technical Analysis and Fundamental Analysis

Introduction to Technical Analysis and Fundamental Analysis

Let me begin by stating that I'm a believer of both camps of technical Analysis and fundamental Analysis. This article is primarily focused on the very basics of what is technical and fundamental analysis, and some of the criticisms on them.

Technical analysis and fundamental analysis are merely two different analysis methods. In a nutshell, technical analysis looks at price actions and indicators, and uses this data to predict future price movements. Fundamental analysis, however, looks at economic factors, business fundamentals, stock price vs value, etc.

STI Elliott Wave Count --- wave 2 or wave 4?

It's starting to look more and more like the 4th wave of the first wave down instead of having the 2nd wave up beginning, i.e. we could still be in minute 4 of minor wave 1.

Reasons:
1) Dragginess, sian-ness.... the feeling that it meanders sideways for too long... the feeling of boredom...

My take is that Elliott waves shouldn't be used solely on price actions and supports/resistances; it should also be used in conjunction with the feel of the market. Different waves have different personalities, and it's up to us to identify the personality that is in the market right now. Only time will tell if I'm right.

2) Time frame. My original minute wave 4 count could have been too short.


If that's the case, the count would be the following:

Wave 1: 2947.08 ~ 2883.76
Wave 2: 2883.76 ~ 2935.84
Wave 3: 2935.84 ~ 2706.06
Wave 4: 2706.06 ~ 2767.43 ?????
Wave 5 might see 2700 again.


Will have to see how it goes. FA valuations are clearly not very attractive at the moment. The monthly salary has boosted my opportunity funds again, so I can afford to wait for my expected Primary 2 wave to retrace before loading in again.

When it's time to wait, it's time to wait. So many analysts are getting more and more bullish, so perhaps, it's really a time for me to be contrarian and stay sideline.