SGX & ST Eng Updates
SGX did not give us the confirmation we need for the reversal. The doji at star position spotted yesterday was near ideal but market decides otherwise. SGX has been viewed as the barometer or leading indicator of the Straits Times Index. It has been traded below 50 days simple moving average for a while and right now refused to confirm the doji star and touching the down trendline. We need to watch carefully will it be breaking the down trendline in the near future. If the down trendline is broken, it is wise to stay defensive in line with the Elliot Wave count.
ST Eng did break out of the bull flag today.
ST Eng did break out of the bull flag today.
Labels: Stock Pick
posted by Market Wizards @ November 03, 2009
Comments: 1
