I put the 100% Fibonacci at the peak in 2007 and the 0% at the bottom in Oct 2008 and guess what?
Monday 1 February 2010
Stockmarket Rally Running Out of Steam ?
I saw the article on Businessweek, "Asia 'Top' Shows Stock Market Rally Is Over: Technical Analysis ... " and it prompted me to check the STI Index.
I put the 100% Fibonacci at the peak in 2007 and the 0% at the bottom in Oct 2008 and guess what?
The market seems to have bounced of the 61% line in Jan '10 and is on the downtrend. Looks like now is not the time to go long.
I put the 100% Fibonacci at the peak in 2007 and the 0% at the bottom in Oct 2008 and guess what?
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment