It has been a long while since our last Monthly Update. Had an amazing 2 months resting and being around with my loved ones and having back to back festive periods (Christmas, New Year and Lunar New Year) made it sweeter.
I have been trying out new strategies since Jan, and I will be showing you guys the results later.
Let's get down to the outlook.
STI has formed the 1st higher low and followed by a strong rally.
What is going to happen next?
I am looking for a pullback or correction to form another higher low, followed by another rally. This will a confirmation that STI has a trend reversal and is on an uptrend. - as shown by my superb drawing on the chart
At this point, it is difficult to pull the trigger to take on more long positions and traders should look to ride their existing long positions and short upon pullback.
DJI and S&P
It seems that all the stars have aligned and the charts are similar.
Dow Jones and S&P500 have all rallied, followed by a period of consolidation and have broke up upwards to resume the strong buying momentum.
What is going to happen next?
There is still some room for both Dow Jones and S&P500 to move, though there are some signs of weakness. Keep existing long positions and prepare to short on a pullback. Likewise, you shouldn't take on new long positions at this point in time.
Stock Portfolio on $10k Challenge
As of 20th February 2017,
I have missed both US and SG rallies, where everything touched seems to turn to gold, and have beaten myself up over it as I have shared in my community. Oh well, many more opportunities to come and been monitoring the markets ever so closely since.
Have taken a few trades and cut a few losses.
Started testing on Day Trading with some new funds. Results with breakdown of contra statements shown.
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