Wednesday, March 13, 2013

STI's ominous Shooting Star


The daily chart of the STI certainly looks bearish in the short term.  On Monday, there was a ominous shooting star. See the circled red color.  The pattern seems to be developing into a triple top, also a bearish formation.
What do I make of these developments?  I have chosen to let the market do what it does.  I will still stick to my trading plan.  I have not taken profits for my long position.

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