[VRNews]

Increasingly, the Straits Times Index and several of its component stocks appear in various stages of forming reverse-head-and-shoulders bases. There is still some way to go before these can be deemed successful. For one thing, no volume confirmation is evident on these formations. Also, in some charts, the symmetry is absent. In addition, the reverse-head-and-shoulders formation is in contrast to and in conflict with the market’s still-declining long-term indicators. Moreover, the STI still hasn’t formed its right shoulder, and there is quite a high change at this stage — given the declining annual indicators — that the formation could fail.
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