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Breaking: WRMB setup spotted!

SiMSCI

WRMB™ = Wash n Rinse Many Boxes

WR4B™ = Wash n Rinse 4 Boxes

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Backstory here.

 

WTI

  1. Year to year, month – month down.
  2. Week to week up (retracement).
  3. No reversal sign spotted.
  4. Resisted by equidistant channel (orange).
  5. Potential head and shoulders at resistance.
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WTI H4 chart

 

DJ30 1-2-3-4 bearish

  1. This one is a gangster; very bullish. Every time Bullard (CEO and President of F.R.B. St. Louis) opens his mouth, this index will rally in V-shaped pattern.
  2. However month to month is down trend so should be a continuation.

    DJ30 daily chart

    DJ30 daily chart

  3. Note also that there is a special milestone at the current high. Stock markets like Singapore (STI) has corrected nearly 30% off the top while Hong Kong (HSI) has corrected more than 30%. Yet ‘exceptional’ USA with its usual ‘green shoots’ attitude is down only 10%! So either STI and HSI are oversold or DJIA hasn’t caught up yet. You decide. For me, I trust what trend tells me.

    DJIA is only 10% off the top

    DJIA is only 10% off the top (Slide from my monthly talk at IG Asia yesterday)

  4. Therefore if HSI and STI represents ‘fair value’ of stocks, DJIA has to fall hard by another 20% just to be on even ground.
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Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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2 thoughts on “Breaking: WRMB setup spotted!”

  1. Weng Poh CHENG says:

    To trade SIMSCI, since AXItrader does not have this product, do we use IG ? I do not have IG account yet.

    1. Soh Tiong Hum says:

      IG as many other brokers offers SiMSCI. You should talk to a sales rep to understand whether it fits you.

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