STI 27/02/2012 - Elliott Wave update

STI 27/02/2012 - Elliott wave update on STI.

Previous update for STI is here.

We may have completed the 5 waves smaller impulse of a larger bullish impulse. We might now be trading in a corrective waves. Wave A being kicked off last week. We might see a 5 wave down impulse to complete wave A followed by wave B and C. After that we might see another push above the recent highs.

Breakaway gap resistance at 2986 and psychological resistance at 3000. This view holds true as long as STI remains below the recent high of 3031.

Just a personal view. Not an inducement to buy or sell.

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STI chart update 26/01/2012

I had posted my STI view on 08/01/2012 here. At that time, I received a lot of responses from many in disbelief. Basically, never underestimate the market. It can always surprise.

Today STI achieved the target as per the post.

Previous chart below:

STI 08/01/2012

STI trying to breakout of the falling wedge. If breakout is successful with big volume in next few days mid term target is 2905.

STI Update 20/11/2011

Elliot wave update on STI.

Primary count: The corrective ABC wave is over and a new impulsive down wave may have begun. Currently in wave 3. There also has been a triangle breakdown albeit on low volume. 2760 is a crucial level. If STI retests above this price again before completing this impulse, it violates this count and alternate count gets in effect (see below).

Alternate count: As per this count, STI is still in its ABC corrective pattern with A ended at 2905 currently B is in progress after completion of which C wave up begins.

Just my personal view. Comments, corrections or questions welcome.

STI weekly update 16/10/2011

STI Weekly:

We saw the repetition target (second red box) of 2621 hit recently. The size of the second box is the same as the size of the first box.

It is quite certain that we are in long term bear market. If it is true then the long term target is the bottom of the third box which is around about 2120.

STI Daily:

Last few days we saw a big rally from the bottom. This rally is a corrective rally which could unfold in 3 waves (A, B, C). We are near the top of wave A. Once wave B begins, it might retrace more than 50% of the rally followed by a wave C rally.

The biggest rally on the way down from the top of 3227 was from 2680 to 2910 about 230 points. Adding 230 to recent low of 2521, we get 2751. Which coincidently is near the recent top. This is depicted by the two green boxes. This tells me we are near a short term top and we should pull back atleast around 50% of the rally.

We also see a falling broadening formation on the daily chart breakout. After testing the breakout price again we should resume the rally to test the high of the falling broadening formation.

STI Hourly:

We are currently near the resistance trend line. We might see some pullback followed by a rally to hit the upper trend line.

STI Hourly:
Short term EW depicted on the chart.

Kepcorp 02/10/2011

I think Kepcorp might be headed for the repetition target of 6.54. Support at 7.46.

SGX 30/09/2011

SGX is trading in a falling wedge, similar to Citydev.

CItydev 30/09/2011

Citydev.


I had posted the chart here on 16/09/2011.

Today it hit the lower trend line and bounced. It will be interesting to see whether the support trend line holds and whether it breaks out of the falling wedge.

STI 28/09/2011

STI inverted H&S on hourly. Very similar to S&P 500 Inverted H&S that was posted before.

Genting 27/09/2011

Bull flag on Genting hourly.

STI 21/09/2011

STI broke out of the symmetrical triangle and stayed above so far.It might attempt to fill the gap next.

Cosco 20/09/2011

Cosco.

Ezra 19/09/2011

Ezra updated chart monthly chart.
Since the last update, Ezra has met two of the three long term targets.

This chart was posted on 23rd July 2011 here.

This chart was posted on 23rd June 2011 here.

CItydev 16/09/2011

Falling wedge spotted on CityDev.

Sti Elliot wave update 14/09/2011

STI is in a sideways corrective wave. Just possibilities. We might be headed for 2900+..

Sti Elliot wave update 08/09/2011

Elliott waves on STI. Primary and alternate count. Just possibilities.

Alternate view.. Many charts 07/09/2011

As per Elliott wave count, STI is in wave 2 if major wave 3 down.  However, here is an alternate view.

Many index stocks and STI is showing an inverted Head & Shoulders pattern.  There is no breakout yet.  There has to be a high volume breakout above the neck line to confirm this view.

Gold double top also supports this view. But nothing is firmed until we see high volume breakouts.

Bullseye.

STI 07/09/2011 - update

STI making a flag and pennant on 30 mins.

CWT 28/08/2011

Elliott wave on CWT.

We might be trading in wave 4. Wave 4 might turn out to be triangle or zigzag or flag abc. Whatever it is it must not breach 1.17 upside for this count to be correct. And there should be another wave 5 down after wave 4 ends.

STI weekly update 29/08/2011

STI hourly and daily view. We might still have some upside towards 2820 before it runs out of steam. Elliott waves wise we might be trading in wave ii of 3 zig zag.