22 July 2008
Market View As On 08 Jul 08
looking at daily / weekly charts of global major stock indices, I'm feeling that an important technical bottom is in the making because they are heavily oversold.
Dow's weekly chart completed a 5 wave structure from historical high, implying a major technical rebound is about to come.
same for SSE and SZE.
S&P 500 wave b (down) of wave B seems to have completed, wave c (up) of wave B is about to initiate.
overall, I think downside risk could be limited from here, risk / reward is favorable for longing in intermediate term.
manipulator seems to have entered ChinaHX earlier judging from daily volumes and price behaviours in recent tumbles. I still think it has potential.
other potential opportunities are FerroChina (TA objective 1.39), Sunvic(should not be a problem to return to .40), XLX, SGX (TA objective 8.00).
Disclaim
above is my personal opinion for reference only. no loss (if any) claim in any nature will be entertained.
looking at daily / weekly charts of global major stock indices, I'm feeling that an important technical bottom is in the making because they are heavily oversold.
Dow's weekly chart completed a 5 wave structure from historical high, implying a major technical rebound is about to come.
same for SSE and SZE.
S&P 500 wave b (down) of wave B seems to have completed, wave c (up) of wave B is about to initiate.
overall, I think downside risk could be limited from here, risk / reward is favorable for longing in intermediate term.
manipulator seems to have entered ChinaHX earlier judging from daily volumes and price behaviours in recent tumbles. I still think it has potential.
other potential opportunities are FerroChina (TA objective 1.39), Sunvic(should not be a problem to return to .40), XLX, SGX (TA objective 8.00).
Disclaim
above is my personal opinion for reference only. no loss (if any) claim in any nature will be entertained.
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