Hi Community,
It is time for our Monthly Update.
Hope all of you managed to follow through with last month's market outlook. For those who did, congratulations on taking long positions and making significant profits.
I will be trading tonight, taking up some long positions in the US market.
Read the post for more details.
STI
Congratulations to those who bought on a bullish candle on the sideway movement - once again, as mentioned on the previous update.
What is going to happen next?
I am expecting a pullback or a period of consolidation soon. Traders & Investors alike, should not be looking to long.
On a longer timeframe, STI is forming a trend reversal and turning uptrend soon. We will see in due time.
DJI and S&P
From the previous update, I have long some counters .
For Dow Jones, we see a small period of upwards consolidation and I have been waiting for a breakout on either direction. Last night, the wait is over, and we can see a strong bullish breakout candle based on last night's trading session.
For S&P, we saw a small pullback, followed by small white consolidated candles and breakout.
What is going to happen next?
Instead of buying Dow Jones or S&P index directly on a breakout play, I will be filtering some uptrend stocks to long.
Stock Portfolio on $10k Challenge
As of 8th December 2016
Portfolio is up 37.16% year to date. I am happy with my performance for the year, and hoping to close off the year at 40%.
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