7th February, 2018, 8:19 AM
STI- [Crash Or Correction?]
Chart Source: Poemsview 7th Feb 2018
Straits Times Index (STI) had a wild ride on tuesday as Dow Jones took another dive of over 1100 points on monday night.
The Dow had an amazing ride from futures being down of 900 points to finally managing to close up of 500 points. In all, it went through over a 1000 points swing.
So is it a crash or correction? And are you prepared for either scenario??
Although our Straits Times Index (STI) had a late day recovery due to the volatility we would prefer to take position more intraday positions or very short term positions and wait for the market to be more stable.
The wide swings can wipe even seasoned traders out so its better to preserve our capital and not rush into things yet.
We would take this opportunity to look for good blue chips that have been sold down. Its the great stock sale!
Our next level of support of the Straits Times Index could be around 3324 or the 200ma.
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