STI - Parabolic SAR Sell Phase Triggered
The market is definitely not looking pretty. It does not require a technical analyst to point out this...
Two fresh Point and Figure sell signals were triggered today. Plus, Parabolic sell phase in the MONTHLY chart was triggered too. However, I maintain that the market will not move in a straight line so we may see some sunny days ahead ( perhaps until the Singapore Budget Day ). Thereafter, market may resume to be under selling pressure. The minimum downside target remains 2,975.
Actually, this Point and Figure target was forecasted in my post January 23 to 25.
I have loaded up some counters today in anticipation for rebound play. I will, however, make sure these are nimble trades and will get out if I am wrong.
Two fresh Point and Figure sell signals were triggered today. Plus, Parabolic sell phase in the MONTHLY chart was triggered too. However, I maintain that the market will not move in a straight line so we may see some sunny days ahead ( perhaps until the Singapore Budget Day ). Thereafter, market may resume to be under selling pressure. The minimum downside target remains 2,975.
Actually, this Point and Figure target was forecasted in my post January 23 to 25.
I have loaded up some counters today in anticipation for rebound play. I will, however, make sure these are nimble trades and will get out if I am wrong.
Labels: Market Direction
posted by Market Wizards @ February 10, 2011
Comments: 0
