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Sunday, 2 February 2014

FTSE ST Financial Index: 2 February 2014, Sunday, 11.35pm Singapore Time

FTSE ST Financial Index:
2 February 2014, Sunday, 11.35pm Singapore Time
Chart courtesy of Chartnexus.com

Attached above is the FTSE ST Financial Index showing THE LARGE TRIPLE DISTRIBUTION OF FINANCIAL STOCKS TO THE PUBLIC, RETAIL INVESTORS AND SMALL FISHES in the stocks and equities markets.

1. The First Long Term Warning was achieved by a breakdown of the PINK SUPPORT in May 2013 as illustrated above.

2. The Subsequent Long Term Warning was delivered by a breakdown of the BLACK SUPPORT in June 2013 as illustrated above.

3. The Long Term Down-trend Warning Signal was double-confirmed in July and August of 2013: WARNING TO GET OUT OF ALL FINANCIAL MARKET INVESTMENTS BASED ON TECHNICALS ABOVE

4. The rest of 2013 was a set up merely to facilitate for the next phase of sharp mark-down stage: A FURTHER DISTRIBUTION AT WORK for long term investment funds to get out. 

5. This entire affair set up the Bearish Descending Triangle above as a consolidation.

6. This Descending Triangle has been completed and awaiting the HIGH VOLUME BREAK-DOWN as illustrated above.

7. As Big Hands in Financial Markets Worldwide are calculated to be back in Shorting Phase since November and December of 2013, and have large Shorts Holdings in the Big Wind Directions as per warned in November-December of 2013, this Descending Triangle will be executed for break-down.

8.  The projected initial target of this sell off phase for the Financial Stocks Index (FTSE ST Financial Index) is a plunge to 692.88 points

9. This means banks and financial stocks have high downside as per warned since November and December of 2013.

10. This entire worldwide sell-down is very far from finished yet.

11. Long term investors, as warned, will have significantly damaged portfolio even if it is consisted of blue chips, safe REITS, big bank stocks, or safe dividend stocks.

12. The above Descending Triangle is a conservative one.

13. The below Descending Triangle is a more aggressive one whose breakdown will result in something more disastrous during this selling wave to come.

FTSE ST Financial Index:
2 February 2014, Sunday, 11.35pm Singapore Time

14. This larger triangular break-down will result in a drop into the YELLOW CONSOLIDATED OPERATIONAL ZONE and a final target of 638.88-650.00 points

Donovan Norfolk Rating: 
1. Straits Times Index and FTSE ST Financial Index both very bearish with much more downsides until the targets above are hit for consolidation phase.

2. World Banking Stocks are also poised for a sell-off until the FTSE ST Financial Index Targets are hit.

Donovan Norfolk Judgement:
Highly Bearish for the long term.
Unload/Sell/Short on every Rebound
Worldwide Bank Stocks Bearish now 
As Banking and Financial Sector are the arteries of economic activities, this further signals weakness in stocks, equities and financial markets worldwide.



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