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Range bound continues in Straits Times Index

Range bound. The Straits Times Index continued its range bound streak last week despite various attempts to move beyond its usual movements. Talks on US Fed interest rate hikes became the topic of the week which brought some volatility into the market. The start was a bearish one but it did not go beyond 3200 level.

Odds of bearish reversal in Straits Times Index getting higher.

It was another range week for Straits Times Index as the market continues to trade cautiously. During the start of the short week, there wasn’t much action in the market as there was lacking of catalyst to trigger any strong movements in the market. The trading range was between 3200 – 3225 levels.

Straits Times Index reacted bearishly

It had been a pretty exciting week for Straits Times Index as market watchers are waiting for the expected interest rate hike in US. The expectations were fulfilled and new expectations were established. Many are looking forward towards further hike to happen in coming quarter. Usually, when expectations are met, the market will adopt the “sell on news” effect.

UK Election results push Straits Times Index higher

Yet again, the Straits Times Index faced another indecisive week as the market waits for the result of UK’s election. The results of the election were announced last Friday afternoon. It turns out to be a “hung” government which many speculated that it can lead to unstable political situation in UK. However, market reacted differently to the election result.