As for Singapore, Mas Salamat "bourne identity" act was really a classic. Escape when going to the loo, how many times have we watched this in the movies. So far no impact on the stock market. We were under continuos pressure and influence from US. While market ignored all the bad news last month, it surely didn't take too lightly of the slowing economy concerns last week. Earning season just concluded and we saw how the market took it. Also there was a bradley turn date on 8th March. True enough the market reacted!!! Is this self fulfilled prophecy or really this law of the universe ought to be studied in more details?
For the coming week, it's too late to short sell for me as we are already in the extended downward movement. The best opportunity to short is when we are near resistance. The chance was already missed like i said in last week's post. Inorder to enjoy highest probability, i will wait for the rebound rally and re-position to short. Meanwhile i will post any charts that look interesting. This will be good for learning. I will try my best to share my knowledge for those keen to learn.
Formation failure bodes ill fate for the index. For best case scenario, we can look at a rectangle trading range should the low of Jan holds. After which we can do projection using the height of this rectangle.
Nikkei broke out of the rising wedge successfully. This is a continuation pattern for the downtrend.
Dow has the same formation failure like STI. Rectangle trade? I say we watch out for divergence in the indicators.
Reversal pattern broke out strongly.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
