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Sleepy STI to Speedy Gonzales?



On Monday 8 Jun 2020 9.40pm, I emailed Clients my latest post titled 'Sleepy STI to Speedy Gonzales?'.


Below is the full transcript of my write up:


'Dear Clients

Apologies to send out this late, had a busy Monday to kick off the week!

Pls first read below my whatsppp message to a Client dated last Wednesday, 3 Jun 2020.



While I noted in my whatsapp message to my Client that STI (Singapore's Straits Times Index) may rally towards 50% retracement at 2744 (Friday 5 jun closed 2751), it is possible to see STI extend its June 'catch-up' rally to the red-lined box* shown below in the attached STI Chart as long as the US 'bull party' can continue.


*2871 is STI's 61.8% retracement (from March low to Jan high) level while 3052 is the 78.6% retracement level. 



What this means to say is if US bulls would to do any abrupt turn from here on, it is unlikely that STI is able to continue the rally on her own. While the recent weak USD may have resulted in some global fund flows (a big 'may') back into Asia, I'm not sure at the moment if the USD Index has authoritatively broke down its trend channel yet.


As mentioned in my last email/post, I'm expecting weakness (pullback) for the US markets running into Q3 (Jul to Sep) negative seasonality, my opinion for longer term investors is to methodically deploy your funds into the US/SG/HK markets in the next one quarter or so when the markets eased off.


Short to mid-term traders on the other hand, must relish in the current trading environment.


Live Long & Trade Well! Thank you & rdgs Thomas Ng, CMT Principal Trading Representative 首席股票经纪 www.thom-ng.com #plsreaddisclaimer #chartforillustrationonly #stiwakeuprally7jun20 #sti7jun20 #befluid #wytant #livelongandtradewell

Chart: tradingview.com / stockcharts.com

Image: sg.news.yahoo.com/speedy-gonzales-animated-movie-in-development-at-212251939.html'



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