Market Review and Trends
STI Expanding Triangle ?
By ccloh Strategic Investor Zone  •  May 5, 2016
With FTSE STI 2,800 level broken today, this has invalidated the Elliott Wave 3 previously described (What's Next For STI ?).  However, the uptrend since the rebounding at 2,540 still yet to be invalidated.  As such, technically, STI still on the uptrend.  With wave 3 invalidated, current STI will have to reconsider as wave 2.  These wave 2 is not the typical 3-pattern (A,B,C) type but on a possible Expanding Triangle pattern. Theoretically, this is how an Expanding Triangle looks like with a 5-nodes of A,B,C,D,E then resume the previous trend. Looking at STI chart after today, 4th May 2016, quite a similar pattern can be observed. If we take STI 2,906 as the peak of wave 1, then the pulled back after that which stop at 2,800 can be considered node A of the Expanding Triangle.  The rebound to 2,960 next can be considered as node B of ......
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By ccloh Strategic Investor Zone
Am a typical retail investor who started investing in stock market in 1993, the same length of period as SingTel was listed in SGX and ironically SingTel was my first vested stock. Back then was a passive investor and started to turn more active in stock market in 2006. A year later when I switched my engineering job to a finance related one, I became what commonly known as trader ( trade for living ) and at the same time also strongly believe in fundamental/value investing that is the way to growth wealth. In a way I classify myself as a "Strategic Investor". As a trader, I track market movement daily and as an value investor, I am always on the lookout for cheap bargain to hold for long term.
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