STI went up by 71 points today. What ia great news, isn’t it? Volatile STI and Singapore stock market is indeed full of excitement and many people can make lots of money in such a big move in a single day. On the other hand, we can also lose a lots in a volatile stock market if we are not careful enough.
Why am I saying that we must be careful on STI?
I did mention that STI was ready to have a technical rebound last week and I have also posted my stock market picks in Singapore market . SGX has gone up by almost 45 cents and you will definitely be laughing if you are making money.
I also mention that STI was only to make a technical rebound and it is still a down trending market. So, it has finally gone up and now touching just near the 20d MA resistance. It can turn downwards anytime soon.
Plus, if you are using the linear regression trendline, it is now touching the upper band suggesting near overbought condition. That’s the reason why you need to be extra careful.
It is the earning report season now in Singapore stock market. So, we need to see if there is any stock market stimulus to give it some fuel to head higher.
For me, I will think the market can head sideway for the time being like what I am expecting on Hong Kong HSI stock market .
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
