Thursday, November 6, 2008

Direction of Straits Times Index (STI)

Do you read the daily Chinese Newspaper Zaobao?

Err.. my chinese not very good, words too chim I dun understand. But can roughly figure out what it is talking, at least can recognise the numbers lor.

Recently, my sister informed me there are technical analysis articles in Zaobao. So I try to follow, reading online, looking for English Headlines then switch to read the detailed Chinese Articles. Below is a copy of “Technical Analysis on STI” published on Monday, November 3, 2008.   

 本栏于上周一(27日)曾预估指数目前正处“肯跌低”周期,其特性为跌势猛、跌幅大,过后长时间在低位波动。10月28日指数更是一度下挫至 1473.77点,幸好当天以1666.49点闭市,遂成了“一日转向”讯号,上周五(31日)又以1794.20点闭市,也于其每周一杆图中出现“转向 ”讯号,因此,估计短期内当向上回扯,并填补介于1894.87点至1920.79点及介于1991.07点至2059.39点间的缺口,而整个回扯很可能在11月中旬结束,过后指数当重新进入跌势。投资者宜乘此次回扯脱身,正是“三十六着走为上着”。

Most important point – correction might occur mid-November, 2008.

On October 25, he wrote “DOW might bottom in 2013”. The rest I cannot figure out what it is talking, 2016 was mentioned.

If you understand chinese, remember to follow his articles. The links are included above. Also included on right sidebar.

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