The worst seems over

I know my title sounds quite obvious cos it seems to everyone that the worse is over. I can feel that the retailers are trading albeit with more caution this time. On the Dow Jones, it tested the 200DMA as resistance with an inverted hammer and the chart is showing some divergences on the indicator. Personally, I feel that it is not a big issue cos I dun see what else can hit the market. We should be looking at a breakout above the 200DMA soon. The last time DJIA ever kiss the 200DMA was a good 5 months ago. But chart-wise, let me just take it objectively that DJIA has failed to break above the 200DMA and the 200DMA is a resistance level currently.

Dow Jones Industrial Average:


The Straits Times Index seems poised for a breakout for the reverse head and shoulders formation. It seems to be a breakout but it is good to wait for one or two more closings to decide. Chart-wise, all indicators are still showing bearish divergences.

Straits Times Index:


These days, I feel pessimistic when the indices are moving north instead of being optimistic. The more the indices plunge, the happier I am and I think I am sadistic. For me, I feel that I will have to wait quite long to pick up counters at a discounted price. I guess it is exactly the feeling of how an auntie goes for bargain shopping :D. Besides, the last few months are a bad time to go long.