It has been a long time since I update on the trend of Singapore market and STI. The market has really been bad! A lot of friends has asked me about my prediction of STI bottom.
I have been patient looking for STI to reach my accumulation zone too!
Looking at the chart, you will see that STI has dropped from 3100 on 26th October to now 2841 lowest as of today on 11th December.
In recent years, we have always tried to spot the bottom of STI when nobody is talking about it yet.
Today might be the day again! STI has indeed reached what we called the accumulation zone again
The zone I am looking to pick up STI is 2790 - 2840!
Hope I am right again. It is never easy to spot a bottom of an index when it is falling like a knife.
And it takes a lot of courage to call for it now that everyone is so pessimistic. But as the saying goes,
NO PAIN NO GAIN!
Just a word of caution, if you are also accumulating, try to test the water by going in a bit first. Add up position as it goes according to what we want.
Happy Merry Christmas!
Ho Ho Ho,
The Gutsy Analyst