from Ajith on Monday, 这鸟腡A实在诡异。
Singapore bourse- Near inflexion point. Accumulate on weakness

We had been bearish on the Singapore bourse since mid July and advocated selling into strength, citing reasons such as euphoria in the market place, deteriorating relative strength among prior leaders and the underlying wave pattern.

Since then, the ST Index had fallen from a high of 3669 in July to a low of 3285. Sentiment has clearly turned for a worse as concerns over credit implosion had culminated in major central banks pumping in liquidity to shore up confidence. Even so, most of the major equity indices are trading near monthly low levels.

The underlying wave patterns for most of these markets are similar and ironically suggest that an interim low could be in the making. Several of the macro indicators that we track suggest that a reversal is imminent. We think that a setup is in place for one more new low in regional indices; including the DOW ( towards 12900) and this will very likely be followed by a snap rally. For the ST index, the short term volatility benchmark is now at a previous high and could pave the way for a volatility contraction and this could result in a rebound. Other indicators like RSI and our price differential indicators are at oversold levels.

We think that an interim low could take place by middle of the week at between 3260-3270