Tuesday, January 17, 2012

Where DOW S&P500 STI HSI Heading?

Wow! Mr Dorky posted 2 nasty comments at my blog today. Dorky either dun understand technical analysis or Stock Market Forecasting or how to use/apply them!

As I have already highlighted, my "STI Open Book" is not meant to be used for short term forecasting. Always look for confirmation of turning points.

Per my "STI Open Book", I expected STI to break the Oct 4 2011 low on Jan 12 2012 and hit a low on Jan 17 2012. However, inversion occurred since Dec 23 2011. And STI hit a high on Jan 17 2012. So guess what I expect will happen to STI next?

"Heaven will give 1.5 weeks notice". So add 11 days to Jan 6 2012 = Jan 17 2012. Add 8 working days (=1.5 weeks) to Jan 6 2012 = Jan 18 2012.

Ed Carlson, expert in George Lindsay Timing Models, posted his comments at my blog regarding my turn date of Jan 6 2012. He said he expected this bear market rally to end on Jan 23 2012.

Oops, my "STI Open Book" also indicates a high for Jan 23 2012 but because of inversion, I expect it to become a low. We shall see.

Look at the 4 Charts - DOW, S&P500, Straits Times Index and Hang Seng Index? Guess where the markets are heading next?

I'll be taking long a break until the markets confirm a bottom is in.

Trade with care, invest at your own risk!

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