Week
of July 8, 2024
"Oh
my gosh! I'm Anxiety! Where can I put my stuff?" from the movie
"Inside Out 2". Anxiety often strikes when deciding whether to enter
a trade when markets are "high" and continue to rise.
From my
experience, position sizing and anxiety have an almost inverse relationship.
Therefore, when markets are high but you still need to follow your trading
process, reduce your position size. This allows you to participate with less
anxiety, benefiting you as a trader or investor as you continue to follow your
process.
US
markets hit fresh highs this week, with the Singapore market also moving
higher, thanks to the banking sector and SingTel. Meanwhile, Greater China
equities continue to stay afloat at current support levels.
The next
technical target for the S&P 500 is 5,680, while the next target for the
STI is 3,500.
We will
continue to look out for long trades in the coming week.
Headlines
for the week:
- US Jerome
Powell Congress Testimony, Jun CPI, Banks Earnings
- China
Jun CPI, Jun Exports
- SG 2Q24
Adv Est GDP,
Disclaimers
apply
