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Wednesday, March 23, 2011

Hang Seng Index Danger Ahead?

Today, March 23 2011, Daryl Guppy posted an article titled "Why Hang Seng Could Face Big Losses" at CNBC website.

Below is summary of keypoints to note:





  1. Decline in regional markets started before the Japanese earthquake. These external events, including the attack on Libya, will accelerate existing trends. Fear drives markets, but when it jumps on an existing down trend, the result is more.

  2. Hang Seng's decline started in November 2010. The move below the long term uptrend trend line confirms this long-term up-trend has ended, but it does not signal the start of a new downtrend. This end of uptrend behavior can develop into consolidation, or a sideways movement prior to a continuation of the uptrend.

  3. The failed rally in January 2011 confirmed the second anchor point for the downtrend line. The position of the downtrend line was confirmed with the third failed rally in early March. A strong chart pattern was created = a long-term down sloping triangle, bearish, adds to potential for a new downtrend to develop.

  4. Support is near 22,600. A confirmed weekly close below 22,600 has an initial downside target near 20,000. But 20,000 is not a historical support level, it is near 19,200. Higher probability of falling to 19,200. The triangle pattern is invalidated by a weekly close above 24,000.

  5. Traders and investors who are on the sidelines waiting for a rebound from the over-sold panic initiated by the events in Japan need to apply more careful analysis to determine if the rally is genuine, or just a rally in the context of an existing downtrend.


Wow! Straits Times Index, STI, also topped out in November 2010. (Still remember how I forecasted the November 9, 2010 TOP?).

Wow! I found the “formula” for forecasting the February 18, 2011 DOW TOP!

So, I am very confident my forecast for the Stock Market Bottom 2011 ahead will be correct! Huat ah!

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Thursday, March 17, 2011

EWI's FreeWeek is Here!

Elliott Wave International has just announced the beginning of their popular commodity FreeWeek event, where non-subscribers can test-drive some of EWI's most popular premium services.


Now through noon Wednesday, March 23 (Eastern Time), you'll get access to all of EWI's hottest daily, weekly and monthly opportunities in softs, meats and ags, plus all the charts, world-class analysis, video forecasts along with practical real-world trader lessons, tips, tricks and more!


As many of the commodity markets are reaching new highs, the timing of this FreeWeek couldn’t be better. See the opportunities that are unfolding in commodities through the eyes of an EWI subscriber before this rare event expires.


Learn more and get instant access to EWI's FreeWeek of commodity forecasts and trading education now -- before the opportunity ends for good.


FreeWeek is one of EWI's most popular programs, and it's perfect for traders and investors who are curious about EWI's subscription services. Please don't hesitate to tell your friends about the exciting opportunity FreeWeek provides.



About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private around the world.

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Wednesday, March 16, 2011

Elliot Wave Theorist February 2011 Free!

Announcement:


Elliott Wave International has released a free issue of Robert Prechter's Elliott Wave Theorist. It includes more of Robert Prechter's experience than you’ll ever read in a single issue -- all 30-plus years of it. What matters is that he uses his experience at a moment when it can do the most good, namely when investors are most vulnerable. This is a unique opportunity for you to see what Prechter’s subscribers see.


Don't miss out! This free issue is only available through March 21.


Learn more about Prechter’s 12-page issue – it’s yours for free.

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DISCLAIMER: All contents in this blog are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of stocks or any other investments. Please consult with your financial advisor before making an investment decision regarding any mentioned investments.
I assume no responsibility for your trading and investment results.
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