I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Monday, 6 May 2019
STI Upward Trend Under Pressure
STI vs USDSGD
Above is a chart showing the inverse relationship between STI and USDSGD. A strong USDSGD generally leads to a weak STI, and vice-versa.
The relationship as it potentially points to funds flowing into and out of Singapore market.
Last May, we saw USDSGD broke out from its accumulation phase with STI breaking below its Distribution phase which lead to an Mark Down phase.
In recent trading, we seems to be in similar position again. And if USDSGD is to breakout from its $1.362 level, we will potentially see STI entering into Mark Down phase again.
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