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Monthly Update – June + Portfolio Update

Home / Blog / Monthly Update – June + Portfolio Update

My Views:

STI

2016Jun-STI-800x600

 

Hi Community,

Following up on my previous update, STI has gone through a period of consolidation followed by a short rally. Short-sellers would have made from a trailing stop loss and buyers, on a strong bullish candle at the start of the rally.

What is going to happen next?

I am looking for STI to pullback from its recent rally. Thereafter, the following scenarios may occur.

1. A pullback followed by a new higher low, confirming the trend reversal.
2. A pullback leading to a sideway market or downward channel.

In either situation, I am inclined for a short.

 

Dow Jones

2016Jun-Dow Jones Averages Industrial Average-800x600

 

From the previous monthly update, traders would have made from my short calls on the index and US stocks. More moolah always helps.

On the big picture, Dow Jones is still moving sideways and testing the 18,026 resistance zone.

 

What is going to happen next?

1. Attempt a breakout above the resistance, followed by a huge correction.
2. Fails to breakout, leading to a correction.

I am inclined for another period of shorting DJI and select US stocks upon a bearish candlestick.

 

Stock Portfolio on $10k Challenge

IMG_2726

 

See you in the market!

Rooting for you,

Joel 

 

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