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IFTA blows in with a fresh blast from South East Asia: New Year panel debate from the region

A live on-line presentation (Monday 17th January 2022) from five regional analysts, it was cleverly timed to start ay 17:00 local time, 09:00 GMT – both very convenient choices – but not so lucky for those on the US East Coast which kicked off at 04:00 am. Not to worry, as members from technical analysis societies associated with IFTA can watch the video at their convenience.

With brief opening and closing remarks by Indrawijaya Rangkuti, Director of the International Federation of Technical Analysts, interspersed with brief comments from Wieland Arlt (President of IFTA), the session was moderated by Aria Santoso.

Straits Time Index – Trading View

First of these ‘Famous Five’ was Azizul Hakimin of Malaysia who, like all the others, delivered in very proficient English; well done to all and thank you. Specialising in Elliot Wave Theory, he gave a brief outline of the wave counts and his views for the Straits Times Index and Jakarta’s Composite (where short term – 1-2months – he was bullish on these). For Kuala Lumpur’s Composite index, crude pump oil prices and crypto repo (XR PUSDT) he expected sideways moves.

Next up from the Philippines was Jonathan Ravelas with an interesting set of charts of ‘’ominous Omicron’’ cases in the region. With a focus on economic fundamentals such as consumer confidence, economic growth and US Federal Reserve interest rate policy, he saw the peso weakening slightly against the greenback and oil prices increasing with inflation. With many markets overextended he concludes: ‘’we need to pray harder’’.

Nicholas Tan from Singapore, who has 30 years’ experience in financial markets specialising in Forex, based his outlook on long term cycle theory – 10, 7, 5 and 4 years, with the shortest at 30 days.
Dr Zulraidi of Malaysia also uses a mix of technicals and fundamentals, tables of GDP, inflation, unemployment and sundry, combined with Gann theory (which probably accounts for some of the unusual diagonal lines on his chart of Kuala Lumpur’s top 30 stocks). Nice clear charts, he’s also interested in Astronomical Analysis, pointing out that Jakarta’s index is moving from Mercury to Aries this year, listing helio angles and positions, plus geo angles for other indices.

Finally MM Dandytra (AKA Dandy) from Indonesia, Bronwen Wood prize-winner (2011) who used to be a coder and now uses data science to create his own sector sub-indices of shares traded in Jakarta. Using ratio charts (of his indices relative to the main market), he then superimposes a 20-day moving average to create two measures of potential Alpha. Thus he creates something akin to Bloomberg’s CIX Go function and Relative Rotation Graphs.


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The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

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