Wednesday, July 13, 2011

Straits Times Index & DOW Forecast 2H2011

A regular blog visitor asked me for the Straits Times Index Wave Count.


Oops! I'm not an expert on Elliott Wave! But recently I read an expert talking about DOW's Elliott Wave Count - that DOW is in a Wave 4 Triangle, a bullish view but depends on whether critical support can hold.


As I said in an earlier article, Elliott Wave Count is but one of the jigzaw puzzle in forecasting....hmmm....anyway.....


I've been starring at this STI Chart Pattern for many months, wondering how it would form.


Hmmm.... based on my Stock Market Time Clocks, STI & DOW Open Books, I "guess" this should be pattern and Wave Count:


A Picture is worth a thousand words!


Watch the support and resistance trend lines! Beware the "Killer Wave 3" ahead!


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