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Monthly Update – April

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Monthly Update - April

 
Hi Community,
 
It has been such a long while since the last Market Update. I am currently figuring out how to link up the Monthly Updates to a live Webinar, and to make it interactive for you guys.
 
Together with the live Webinar, I will be putting a column where all of you can pose your questions you may have or challenges you are encountering when trading or investing.
 
Stay tuned for more details.
 
Please note the following for the Market Update:
 
- I am unable to indicate the resistance and support levels on the charts to the precise index point. Either the software is preventing me from doing so, or I have fat fingers. I think it's the latter.
 
What I have done, is to include the data index for the resistance and support for the relevant markets. Yes I know I am awesome.
 
My Views:
 
STI

For those who have been dropping me whatsapp / attended my previous seminar / chatted up with me in any other ways, you would like known that I was expected the current rebound, after the deep correction from December.

 
The market has rebounded strongly. So what next?
 
STI is seemingly going sideways - from a downtrend, with no confirmation yet and has reached a critical juncture with resistance at 2897.
 
The following could happen:
 
1.  Fail to breakout upwards past resistance and we will undergo another period of correction.
 
2. A consolidation / pullback before a breakout. It is important to note that STI has been up for over a month. 
 
In both scenarios, I am inclined towards a short. I am looking forward for a period of correction OR a false breakout. 
DJ

Top of the Sideway Band.

 
The following could happen:
 
1. Correction occurs, to 15,501 level
 
2. A period of consolidation, breakout upwards from a sideway market. 
NASDAQ

NASDAQ was trading in a sideway market and is now downtrending. It broke 4486 to 4216 before rebounding back to current levels.
 
It has a lower low and lower high.
 
I am inclined for a short. 
S&P

 
Sideways. S&P is near resistance at 2077.37.
 
The following could happen: - Similar to Dow Jones

1. Correction occurs, to 1808 level

2. A period of consolidation, breakout upwards from a sideway market. Thereafter, we will look forward to verify the authenticity of the breakout. 

 
 
In summary,
 
STI, Dow Jones, NASDAQ and S&P had strongly rebounded for over a month. This week will be a critical juncture for traders to take note of and I am looking for shorting opportunities.
 
As always, if you need any help, feel free to contact me.
 
 
 

 

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