Brexit
What we have see in the past 2 weeks for the STI was a strong sell down from high of 2881 to low 2744. Seeing the strong gap down that occur on 13 June 2016 will have put off any strong hopes of a big rally.
My view is that based on current technical chart, the market is likely to consolidate for this period as most of the uncertainty could be priced in. Hence, those who have been on the sides lines could be slowing building up their positions.
If you are my clients, please kindly refer to my email for updates on the strong leaders to load up on as this could be a good opportunity to buy cheap.
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| 17 June 2016 STI |