Posted on March 2, 2010 - by AK71

STI: Marching in place in March?

STI Chart from AK71 Blog

TA is not about predicting price movements. TA always presents two possible scenarios. To most people, this immediately means it’s as good as not saying anything. Well, if we had a tool that could tell us if a security was definitely moving up or down, …………..; you fill in the blanks.

Then, why do we still have TA? Well, knowing the trends, supports and resistance levels could help us make certain decisions when certain numbers are hit. Is that it? I am probably not doing the subject justice but for my purpose, in a nutshell, yes.

OK, on to what you are waiting for. What do I see in STI’s charts?

On the daily chart, we see that the MFI is clearly downtrending with lower highs and lower lows. The stochastics is turning down from the boundary of the overbought region. These are momentum oscillators and their current patterns indicate weakening buying momentum in the near term. Read more…

Related posts:

1. March 2010 Portfolio Summary and Review
2. Is the March 2009 Bull rally over ?…….this question was put to me by some financial journalists yesterday
3. Learn Forex: Profited USD1500 in March 2010