Monday, July 17, 2006

Where Are We Heading

Tonight's study is on STI. It is important to know where the market is heading before I even look at individual chart. The line of least resistance is obviously heading down. I deduce 3 sceanrios.

A) Index looks likely to test 2280, if reach here and rebound, a possible reversal if the rebound take out the 2448 as set in July.

B) Index breaks 2280 and pulls closer to 2180, this is where we can fish for a rebound in index.

C) Index rebounds from the close today and takes out 2448, A higher low, higher high will be registered.

The above are my anticipation of the market. I do not act on them, simply, I act when it is happening. Another thing i noticed about some stocks, they are near the lows made in May when the market came crashing down. I am looking out for possible reversal candlestick pattern.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.