When the market makes a major turning point, the price and date normally show harmony indicating strong support or resistance.
The last major turning point for the STI was the low of 2953 on 4 Feb 2014.
There were quite a no. of indicators showing, so the following was posted on the night of the low:
4 Feb 14 (post #114):
Quote:Today the STI made a low of 2953. A preliminary look at 2953 on 4 Feb indicates calculated support at the price, and on the date.
2953 can actually qualify to be a bottom, but only time will tell.
Just one fun fact:
Looking back at the STI, there were 3 very significant "crashes" over the past 30 years:
1) In the crash of 1987, STI made a crash low of 700 on 7/12/87. (down 53%)
2) In the 1998 Asian financial crisis, the STI lowed at 800 on 4/9/98. (down 68%)
3) Then in the Lehman Bros crash, STI made a low of 1455 on 10/3/09. (down 63%).
Total of the 3 lows (700 + 800 + 1455) is 2955, which is very near to the 2953 low.