STI Gloomy Future

STI had actually illustrated a bearish outlook this Febuary. The rectangle in the chart box out a head and shoulders which spans across 8 months. The neckline was broken somewhere in Febuary 2008. It then fought strongly to regain strength. Retraced back to the former neckline and continue to fall. Classic head and shoulders. The Dow Jones Industrial also depicted such a bearish pattern in the same duration.

STI 23rd-27th June

STI was disappointing this week, the bear rally was weak and a downside from now is highly likely. Stochastic is crossing downwards, confirming the downside. Support at 2859.

Outlook for markets

STI is on an intraweek dead cat bounce, and i would think it should break down pretty soon from there. Commodities like sugar and corn are a watch now. Waiting to short CapitalLand.

1% p.a. Savings Account

As all of you know, interest rates for fixed deposit are at an all time low and inflation is soaring at 8% this quarter, our usual savings account of 0.25% isn't helping much in keeping up with inflation.

The savings account that i am recommending are not going to make you rich, but i believe serves well as transactional accounts or simply accounts for you to accumulate a lump sum before investing further. Afterall, 1% is better than nothing. There is also nothing to lose in signing up for the account!

Fairprice plus is a collaboration between NTUC and OCBC bank, a simple statement based savings account. No minimum sum required to maintain the account, no monthly charges. 1% p.a interest from the 1st dollar.

finatiq is the second institution providing a 1% p.a savings account. As the nature of the account is investment based, there is a wide variety of investment opportunities that can be done through the account once its opened. Of course, you can just choose to keep the cash in there like a savings account. Its your choice.

Maybank and Standard Chartered used to offer high yielding savings account with the best offer at 1.88% in the past, but has since been lowered to below 1%. Also, there is a minimum sum that is required to qualify for each tier of interest rate. As such, i have left them out. Should there be an adjustment, i will update accordingly.

STI for 16-20 june

STI entering a descending broadening wedge, intra week uptrend. Should it close above target 3170, expect upward breakout. Should it face resistance, expect resistance back to the bottom trendline.

Blog objective

I have started on the journey of financial literacy and the exploration of the stock market for about 1 year now, and would like to use this blog as a platform to share my knowledge. I realised that there is a lack of published books that guides people on financial issues based on the Singaporean context, hence i think a compilation of articles on a single blog will be useful for people like me who would like to grow their money, earn a second income, and achieve financial freedom. No matter which of the above aims yours might be, i hope you will find valuable information here. Cheers.

About me

I am a undergrad who has a passion for the financial markets. Ever since my first trade in stocks 2.5 years ago, my journey of self discovery and financial literacy has never stopped. I relentlessly pursuit the art of trading so that i may one day, 'graduate' the blog to the status of a Full time trader. Hence my blog name, the Part-Time Trader.