Do You Want To Huat?!!

Yo yo! Woo hoo. Brand new blog. I used to do all my TA posts on my personal blog at sillypore.com/diary. A friend suggested that I create another blog purely for TA so that those who are not interested will not be overwhelmed by all the TA posts. Thanks for the suggestion! And there you go, TimeToHuat was born!

The market conditions have been unbelievably bad. This is technically a non-tradable period, unless you have been holding short positions from a long time ago. I have been holding shorts on SPC, IndoAgri, Resorts (KLCI) etc and the charts are mostly on the other blog so I won’t do them here again.

Current strategy? Wait for confirmation of a trend. I am actually looking for a rebound. 2 scenarios. 1, the rebound becomes a dead cat bounce, and ends up with another lower low. That’s like a bear rally cum bull trap. Scenario 2 is, the bottom has been found and is sustainable. For confirmation, look for a high low. This means, a rebound, followed by a retracement, and then another move up. It may form a bull flag, it may not. Regardless of it, a higher low is a bare minimum. A trendline can then be drawn and when the next retracement bounces off on or above that trendline, it is a good time to add onto more long positions. I will however be looking at the 20MA resistances, as well as fibonacci resistances to confirm a position.

I am actually anticipating a bottom to be formed in Oct, and for that bottom to hold for the next few months. ie, a sustainable rebound. This may be counted as a wave 4 (currently tail end of wave 3?)

I will begin to post more charts, as and when conditions have changed enough to see something interesting.

I will be looking for resistance on the Dow at 9450, and on the STI at 2200. There are a few key ones above, but let’s clear these first! What we do not wanna see hopefully, is another dead cat bounce. For everyone’s sake (and to void the formation of a depression set up), let’s hope the bottom for now has been set.