Thursday, 23 February 2012

STI back within 3000, Dow retesting 12938 after hitting 13000

Dear Friends,

As Hu Li Yang mentioned, STI needs to stand above 3000 for at least 3 days. However STI failed on the 3rd day (which is yesterday). So we could not say it has succeeded in breaking through 3000. Today STI continues its fall. Dow Jones similarly hit 13000 points before retracing to 12939 yesterday.

I would suggest don't go into the market now. Especially when these major resistances are still in sight.

Like what I say in my article, I would also suggest keeping your eyes on STI at 2900 and Dow at 12700. If they falls below that figure for 3 consecutive days, you may want to liquidate your positions.

Rgds
Daniel

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