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Short term uptrend in STI
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ten4one
Master |
02-Jan-2009 20:10
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You mean for the next cycle ? .. :)
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SupremeA
Veteran |
02-Jan-2009 14:31
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Haha, I do exact opposite, take the ang pow money and put in. Lol.
Brokers earn leh
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ten4one
Master |
02-Jan-2009 11:18
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Preparing for the Chinese New Year of The Ox (a cousin of the Bull) Rally. Cash in for some ang-pow money..hehe. Cheers! | ||||
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DnApeh
Master |
01-Jan-2009 22:09
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BTW, if STI were to break down from this triangle, we are all going to be rich, very rich, if we play our cards right, cos all the blues are going to be dirt cheap, if you dare to pick them up.
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DnApeh
Master |
01-Jan-2009 21:59
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I think the breakout up or down is 50/50. Looks more like a symmetrical triangle if you use a log scale. Points favouring downside are: No definitive signs of trend reversal, so have to presume down still. RSI is less then 50% (bad). Points favouring upside are: MACD trying to go over the neutral line. DJIA & SP500 both show bullish signals (lines across close of 4 NOV & 16DEC for both charts) despite less than satisfactory volumes. Although i am bullish, i feel that for people who are on the sidelines, should wait patiently for definitive signal to be given by the markets, that is, go long/short if upper/lower part of the triangle is breached respectively. It is probably these 1 or 2 weeks. Sekarli tomorrow, LOL! People who are in, like me, should be ready to cut loss if the lower part of the triangle is breached. A recent example of a breakdown from a triangle can be found in the same STI chart Jan 08 to Feb 08, with the actual breakdown happening on 3 Mar 08.
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singaporegal
Supreme |
01-Jan-2009 20:26
Yells: "Female TA nut" |
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I agree that a breakout will likely occur. This is a Triangle pattern and usually breakouts that occur from such patterns tend to follow the previous trend. I suspect that the index may breakout strongly to the downside. |
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iamrecneps
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31-Dec-2008 02:17
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I wonder how this forum works. Is quoting a post the way to reply to a post? Testing it out now.
Anyway, I agree that the STI looks like its turning up based on the MACD. For example, some stocks like Capitaland, Wilmar, GoldenAgri have already crossed the zero line. However, it is also possible that it stays in the horizontal range for a while longer, since volume has been rather low and it has not pushed past the mid-november highs. Also, the triangle formation seems to be too near the tip of the apex for a strong breakout to occur.
Cheers Spencer
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cybernick
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31-Dec-2008 00:08
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Agreed. The MACD looks good. And there's a volatility squeeze. A breakup looks likely. I would enter at 1855 with a stoploss at 1690 (must close below 1690). | ||||
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ronald_lee
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31-Dec-2008 00:07
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sorry, noob attempt at adding pics, hope this works  
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ronald_lee
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30-Dec-2008 23:51
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On the daily chart, MACD for the STI is close to crossing the zero line, which is a signal for short term uptrend. Break out of the triangle formation will act as a confirmation. The January effect could possibly fuel the rally, together with the bailout of the US automakers materializing under the new US administration. However, the weekly chart paints a bearish picture. Note that the STI still trades significantly below the 50 day moving average, which will serve as a stiff resistance to the upside. MACD shows a bullish crossover of the signal line. It is however a less reliable signal than the zero line cross. In summary, watch out for the zero line cross in the MACD for the daily chart. It is indicative of upside momentum. Those with a longer trading horizon should wait for the zero cross for the weekly chart. |
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