Thursday, 24 October 2013
Market Forecast Update: 24 October 2013, Thursday, 10.59am Singapore Time
Market Forecast Update: 24 October 2013, Thursday, 10.59am Singapore Time:
Immediate term corrections came and continued today as per expected.
Current expectation for this immediate term correction is for it to last 1-2 weeks in duration.
However, it can be shorter in duration and ends earlier if shorts are reduced today.
Worldwide International Financial Markets have all hit important intra-day supports right now, for instance Hong Kong Hang Seng Index at 22770.00 points, Japan Nikkei-225 Index at 14300.00 points and Singapore Straits Times Index at 3200.00 points. If these intraday supports hold and Big Hands' shorts are greatly reduced or even flipped to longs, the immediate term correction will be over; if shorts are increased at these levels, the immediate term correction will be double confirmed to last 1-2 weeks and not end earlier.