Safe for a little while

True to my forecast, the shaven candlesticks formed on previous closings held as support as the Dow Jones closed with a doji-like candlestick testing the level of around 13040. Thus a higher low is still not being breached by the latest closing. This is quite bullish to speak of.

Dow Jones Industrial Average Chart:


Looking at the chart of the Straits Times Index, there seems to be a breakout of the wedge formation and today's closing pierced the resistive trendline. The good news is the volume dun seem to be light today. However, i feel the trendline may not be that valid so in order to prevent whipsaw, i should wait for tomolo's closing. Otherwise it should be a good time to enter but with caution.

Straits Times Index Chart:


I tink this might be late news but i do tink that the shipping sector counters is in play perhaps. I notice STX PO and Jiutian have heading north recently. But they rose much faster than i expected. Currently i am waiting for it to retrace back but perhaps it may not happen at all. I posted some charts but i will not been commenting on them at the moment.

STX PO chart:


Jiutian Chart: