Table 1_Top ten stocks sorted by total potential return 29 Oct 21

STI – having closed at a record YTD high, will it continue higher? (7 Nov 2021)

Dear all With reference to my market outlook published on 3 Oct (see HERE) citing opportunities in our Singapore market, STI has soared 191 points, or 6.3% from 3,051 on 1 Oct to close at a year to date high 3,242 on 5 Nov. Will STI continue to march higher, or will there be some profit taking?   Very briefly, my personal view is It is likely that STI may face some profit taking in the near term, attributable in part to the following factors: a) With reference to Figure 1 below, MSCI Singapore index will undergo a rebalancing in […]

STI chart as of 24 Feb 17

Ernest’s market outlook (24 Feb 17)

Dear all, Dow has hit daily highs for 11 consecutive sessions, its longest streak of records since 1987! What’s next for our markets?   S&P500 Just to recap what I have mentioned on 10 Feb 2017 (see HERE), I wrote “various indicators such as RSI, MACD, OBV and MFI continue to exhibit bearish divergences. ADX has slid from 41 in Dec 2016 to close at around 18 on 10 Feb 2017, which is indicative of a trendless market. RSI closed at 70 on 10 Feb 2017. Given the various chart indications, although S&P500 continues to be on an uptrend amid […]

STI chart as of 10 Feb 17

Ernest’s market outlook (10 Feb 17)

Dear all, Happy Chinese New Year 元宵节! The animal spirits seem to have descended on our Singapore market! Our STI is one of the best performing indices with a blistering 7.6% year to date return. Our FSTS ST Small Cap Index has returned 4.6% for the same period. Have you benefitted from this rally? What’s next for our markets?   S&P500 Just to recap what I have mentioned on 27 Jan 2017 (see HERE), I wrote “it is very worrying (more worrying than 13 Jan) that the various indicators such as RSI, MACD, OBV and MFI continue to exhibit bearish […]