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Thursday, August 6, 2009

Making of Domed House - Straits Times Index?

Did you notice topping patterns forming in a number of STI component stocks? Topping patterns like Head and Shoulder or Double Tops.

Straits Times Index also shows sign of topping pattern – Making of Domed House or Head and Shoulder Pattern? You might not noticed it now.

One US Expert forecast a Domed House will be formed in S&P 500. I took this idea and created the Domed House Chart for Straits Times Index (Forecast). If Alternate # 4 Elliott Wave Count is correct, then we should see a Domed House being formed.

Alternate # 4 Elliott Wave Count?

Yes, a number of local analysts are still counting STI, HangSeng, Dow and S&P500 indices as 5 waves up. They are still in Wave A up of Phase 2 of Bear Market.

Does it mean they will be counting Wave B and Wave C next?

Wow! I like this Elliott Wave Count, it's going to make me rich! It means another opportunity of 50% rally! Oops!

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I assume no responsibility for your trading and investment results.
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