Dear readers, the US stocks markets closed notably lower yesterday.
Dow Jones Index was down 0.78%.
S&P 500 declined 0.77%
NASDAQ retreated 0.87%
I have anticipated the decline in stocks markets as per my previous post on “How to Succeed in Investing? The Proof is in the Pudding” . I cited two reasons for the upcoming decline in Singapore and US stocks markets: first, September is a traditionally weak month for global equities. Second, the technical charts of the Singapore’s Straits Times Index have already displayed signs of the start of a long-term decline.
While the Straits Times Index (STI) was up 0.88% to close at 3,098.80 yesterday (10 Sep 21), this to me is just a short-term advance: the Singapore stocks markets are already at the start of correcting. In my view the STI will retreat to the 3,000 technical and psychological support first and then it will test the support before moving lower.
I suggest everyone to step away from the stocks markets for now. Let the stocks markets run its course and we will come in to invest when there are attractive points.
For now, on the backdrop of an increasing Covid-19 community cases, let us take care of ourselves, family and loved ones physically, mentally and spiritually. Wish You and Family Stay Safe, Stay Strong!
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!
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