Singapore Equity Benchmarks : Into the "Box" And Reversing

• The 50%-62% retracement zone is technically significant. Dennis Gartman calls it the "Box". Deemed as good entry levels to position for trend resumption after a counter-trend move.
• Charts of a few Singapore equity blue chip benchmarks (CityDev, DBS, Keppel Corp & SingTel) here. Jun07 high to Mar09 low = main trend = down. Mar09 low to 2010 highs = retracement = up.
• Notice that all these retracements have made it into the Box ie upmove over and should all now trade lower in the months ahead. SingTel seems to have run ahead of the crowd and gone back below the 38% Fibonacci level. I wonder why that is (reckless EPL bidding to capture share in tiny market = poor reflection on company?).
• Mis-read markets badly this week (was looking for calm and order) and taking a break to avoid making more bad decisions. Until I get my back sorted out (too painful sitting down, am writing this kneeling on floor) and also back in sync with markets, will be posting with less frequency than usual.