Stock Market index~~

noahnoah SG

I think STI index will hit 3000 by year end..

What u guys think?

eagle SG

I'm expecting some further upside... Loaded UOB recently already...

The rally in Europe and US on Fri night might justify one or two more upwaves...

Expectations might be till 2900 or 3200 by October... Not sure if you remember I mentioned 2680+ (reached 2700) in Speaker's Corner quite long ago... and there were some forumers who trashed it...

eagle SG

To add on, I'm expecting a mega crash after these waves end... Likely to end below March lows... Probably starting around mid Sep to Oct...

Previous analysis in June on 2680: http://www.sgforums.com/forums/2092/topics/365384

After that, was surprised by the formation of the running zigzag

So the earlier C wave in the previous thread didn't go as low as expected... This signifies strength in the market...

Currently, STI appears to have completed a 3-waves correction, finishing at 2522. So far, it seems to be true... My count will be invalid if STI breaks 2522.... And STI will come tumbling down if it breaks my purple line above... So far not yet...

eagle SG

STI did reverse at 2522 :)

Now while everyone is starting to wonder if STI will go up again, my expectations will be a mini down, before another big up.

We shall see a sudden movement within 4 trading days. My expectations is an up.
Expect a small correction soon to bring us between 2540 to 2560 within the next 3 days (my mini wave 2), then the sudden movement by Teacher's Day to signal the start of mini wave 3.

I might be wrong... Still learning :)

eagle SG

Sudden movement was indeed seen. But it went down instead of up.

Be very cautious. I sold my UOB today.

eagle SG

I have redone a detailed analysis over the weekend... My charts here:

Nov 08 ~ Jan 09 : Wave A

Jan 09 ~ Mar 09 : Wave B

Mar 09 ~ Sep 09 : Wave C

It appears that STI has some more upside to go... but it's the final one...

For those interested in Elliott wave, this is a type of 3-3-5 expanded flat correction.

Caveat emptor and good luck to those trading...

eagle SG

Updated wave count, if anyone interested

[STI+Chart+Nov08-Jan09.jpg]

eagle SG

If historical prices were anything to think about, this is STI in the log path

While there may be further upside, it will be an uphill task.