15 November 2019

Wave 4 Ended?

Wave 4 (brown) has formed three subwaves, so it appears that the wave is complete. It stopped slightly after the 23.6% retracement and short of the top of Wave 1 (brown). But we cannot be sure that the STI will then turn upwards, although it is shown as such in the chart. It can morph into a triangle or a combination corrective wave, dragging out the correction further sideways. 

The situation is still rather amorphous. The wave count in the chart has the highest probability as of now, but there are other possibilities. These could go sideways as I said, or substantially downwards. My worry is that analysts are predicting that a major downturn in the US stock market is imminent, which will bring down the Singapore and other markets. I am maintaining an optimistic attitude until proven otherwise.

Previous     Archive     Next