On 24 Oct (Mon), US market continued to amaze me by continuing its upwards momentum, lingering since last Friday's closing.
Recap :
1. DJIA : +1.34% (+417.06 to 31,499.62). Best performer of the day.
2. S&P 500 : +1.19 (+44.59 to 3,797.34).
3. Nasdaq : +0.86% (+92.90 to 10,952.61). Weakest.
What has changed ?
1. Asia Bourse fall from Grace.
For a start, both Singapore and Malaysia bourses were closed celebrating Deevapali.
Hong Kong's Hang Seng continued to languish for another -6.36% to 15,180; that is lower than HSI 2011 Oct lowest.
North of HK, Shanghai Composite index did not fare any better, falling -2.02% to 2,977.56 (below the 3,000 support level).
In contrast, Asia's "bad" news turned out to be blessing for US market as funds that exited both HK and Shanghai market flowed into US; instead of Europe.
2. Oil prices fell > 1% with weak China's demand in Sep slipped compared to same period, last year.
3. After reading all sorts of articles via Google, seems like sentiments on the ground is bullish about this week's Q3 earnings reports that are coming out from today onwards.
Judging the technical charts, all 3 boards' SAR and RSI indexes are still on upwards progression and have not gone into "over bought" yet. If there is anything that would be blocking progression will be the pyschological barrier.
With all the euphoria on the ground, does it mean its time to get the feet wet ?
"Do not invest in the present,” Stanley Druckenmiller, the legendary hedge fund manager currently running Duquesne Family Office, said.
Will you heed the words of an experienced Wall Street veteran ? You could find out more via this link - https://finance.yahoo.com/news/stanley-druckenmillers-no-1-piece-of-advice-for-novice-investors-173232751.html.
I will still be watching my single favourite stock $Deutsche Bank AG(DB)$. Have whittled it down to this solo stock for now. What about you ? Share your thots in below Comments section ok.
Please "like" this article if you find it interesting. Thanks.
@TigerStars
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@MillionaireTiger
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