Invest Fair

Helped out in the INVEST FAIR for past two days, I have a feeling that the talks in the INVEST Fair probably may have some influence over the Singapore Stock market in the coming weeks. There were talks and sharing sessions to show that Singapore stock markets are going to become bearish and having a big correction. The investors who attended the fair have a little bit more insight of the stock market sentiment and the future STI movement. For me, I will stay out of all Blue Chips stock for the time being until the correction is over. I am planning to sell off some penny stocks in the next one or two weeks because any big correction in STI will also affect the penny stocks. The probability of share price going down is higher than share price going up, so why take the risks? Furthermore, the two big drops (5.8% on Monday and 4.3% on Wednesday) last week at Shanghai stock exchange had raised some alarms. I am not going to take any risks.

STI : End of Elliott Wave 5. Big correction is coming?

I am very tempted to pick up some stocks this week after seeing some selling off. However, I changed my mind and decided to ENDURE and wait for the big correction. I have to be very disciplined for these two months.

STI had completed the Elliott Wave 5 and started the correction. The next support will be probably around 2420 points (61.8% Fibonacci retracement of Wave 5).

The index will probably retrace back to 2220 points (61.8% retracement of full Elliot Wave 1- 5), ie. there is another 300 points to go! STI is really looking bearish, isn’t it? However, it is a good news for those who have missed the April-July rally. I am loaded, and I am ready to go!

Capitaland DOUBLE TOPS formation – Down Trend started?

A double tops had been formed on Capitaland indicating the trend reversal. In addition, all Standard Six Indicators are showing bearish convergence. Capitaland closed at $3.63 today with hanging man candle. Stock price broke the 20D & 50D MA support and at the lower end of Bollinger Band. MACD is very close entering bearish convergance at lower half, RSI & Stochastic are showing bearish convergence as well. All technical indicators showed that down trend is going to start. I am sitting back, relax and wait for the big correction before I long this stock. I hope I am right!