(Returning Back) Market Update: 28 Apr 2019

Hi everyone, it has been close to 3 years since my last market update. Over the last 3 years, besides updating myself on the market and economy news, I have managed to pass CFA level 1 and attempted level 2 once before I paused it for my personal reason. Furthermore, after attended numerous of market events, different trading workshop and exploring on different trading strategies, I realized that all the above does not really improve on my trading accuracy but at least it does allow me to see the market from different perspective. I have been working in financial industry since 2014 (related to trading) and get to know that most of the victims in the market are our retail investors/traders due to limited knowledge. Even though I might not be a professional trainer or a successful trader, I believed the knowledge and experiences I gained over the years somehow sufficient enough to at least bring awareness to the retail (amateur) traders. Without further ado, I will start off with market update.

DJI – It has been a 23% uptrend since Dec 2018. The current price is at the top of the channel seemed like going to break above the all time high record. However, base on MACD, a bearish divergence is also forming. A decent pull back will be good for DJI. Therefore, I am monitoring for it to hit above 27000 (Whole figure) and keep a look out for reverse candle to short it down to 26000.

STI – It’s been uptrend since the start of year 2019. The current price is staying at the top of the channel conjunction with the 61.8% Fibo from the previous support line. (Highlighted in red circle) Most of the STI main component stocks going Ex-Dividend soon within this and next week. Once Ex-dividend plus the bearish divergence showing in DJI chart come true, I am looking for a pull-back for STI to hit around the 50% Fibo (3300). Overall: Since now is the earning reports season, watch out for your position size if you are doing any trades. We are entering the month of May whereby sell in May and go away may come in to hurt your profits. Learn to understand the beauty of no position is also a position. Going forward, besides sharing on market update and trades opportunity setup (Pre and post event), I will to input some basic trading guidance and hope that to provide a platform which consist of education purpose. I have setup a facebook page for the ease of sharing and posting any informative articles in future. If you are keen to join the community, click on the facebook link posted at the top right corner, follow and like my facebook page. You are remind to trade base on your own risk. Plan and Trade well :)