Straits Time Index (STI) - My Stocks Investing

STI – Bearish Outlook

Post author:Marubozu
Post published:June 23, 2010

So far STI’s chart has a bearish outlook.

STI is currently trading in Elliott Wave B and hitting 50D MA resistance. Expect STI to pull back to end Elliott Wave B. If STI breaks the 200D MA support, Elliott Wave C will start.
STI is in the process of forming a Head and Shoulders with neckline at 2,660. Breaking below this neckline will send STI to 2,287.

STI – 200D MA Support Broken!

Post author:Marubozu
Post published:May 24, 2010

STI has broken the 200D MA support and is heading to test 2660 (23.6% Fibonacci Retracement Level). If this support fails to hold, a bigger correction will happen and STI may go all the way to 2430. The current chart looks bearish but STI may rebound from 2660 support in near term but will face the resistance (200D MA) at about 2770.

Review of Key Indices Patterns

Post author:Marubozu
Post published:December 7, 2009

DOW JONES INDUSTRIAL

DJI is at the top of channel resistance. If the index cannot break this channel resistance (about 10,500), it may retrace back to 10,100 level (close to channel support) in the coming one to two weeks.

S&P500 (SPY)

S&P500 has a similar uptrend channel pattern as DJI. If the index cannot break this channel resistance (about 112), it may retrace back to 107 (close to channel support) level in the coming one to two weeks.

NASDAQ COMPOSITE

NASDAQ is hitting a critical resistance at 2191 level. It is important to see whether NASDAQ can break this resistance and continue its uptrend.

Straits Time Index (STI)

STI broke the previous resistance of 2,734 and continue its uptrend in a channel. 2,800 is a key resistance level and STI may retrace back to 2,670 (channel support) if STI is unable to stay above this resistance level.