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.