Dear readers, yesterday the Singapore stocks benchmark Straits Times Index STI crashed 6.03%! As a result, the Straits Times Index STI is now at 2,782.37! As shared with readers many months ago before in Sg Stocks Investing, my immediate target support for Straits Times Index is the range 2,800 to 2,900. And yesterday, the Straits Times Index did indeed not only meet this target range but also crashed through it.
With the Straits Times Index reaching an all-time high of 3,600 in recent years, a market correction which is usually 20% off from the highest points translates into a Straits Times Index of 2,880. With recent showing of the Straits Times Index below or close to 2,800, I believe Singapore stocks markets have entered into a bear territory.
Again, my personal thinking is that the Straits Times Index would consolidate around 2,800 level first before going down to 2,600.
Stocks markets have not corrected for more than a decade. Are recent stocks markets performance the starting of a market correction next?
My answer is likely but I think whether we are right or wrong is not important at all. The most important thing is to have an investment war chest to bargain- hunt for good stocks at discount prices when stocks markets correct and cash is king!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!