Tuesday, May 26, 2009

i see red

based on charting, anyone can point out that STI is creating an ascending flag or upwards wedging, maybe poised for a breakout. important level to watch is 2285. however, today proved to be a down day as it tried to reach the high of 2285. i believe that there will be a few more down days after today since the charge has lost its momentum.

areit is showing a short but the perfect entry would be on monday. just need to watch out for a slight pullback after 4 days in the red. short on strength, 10/27 EMA showing that areit is starting to downtrend. target at 1.23. if its still downtrending, enter a short back at 10-day EMA. stochastic crossover will confirm movement.

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