Market action 6Aug2021 (Friday)
HSI -> risk-off. STI -> risk-on.
Hang Seng Index(HSI) declines 0.10% today on lower volume compared to yesterday. Volume on all five days of the week is below average. Uneventful week.
28Jul2021 represents the first up day after HSI hits a year low the day before. The low for this day should not be violated for a recovering market.
Low of first recovery up-day(28Jul2021) HSI = 24748.84
HSI is trading below 21-day, 50-day, 200-day moving average.
HSI remains in bearish territory.
Straits Times Index(STI) is flat today rising 0.07%. Nothing much to say.
STI remains in bullish territory. Same as the day before.
Action for HK market (risk-off):
- Stay out.
- Get ready to sell stocks on signs of weakness
- Be extra careful if you see an attractive opportunity and want to buy. Demand higher quality.
Action for Singapore market (risk-on):
- Stay in the market
- Look out for opportunities to buy
- Don't be too quick to sell stocks
I put my idle money with moomoo Cash Plus while waiting for investment opportunities because it offers above-average yield and can be withdrawn within days. If you are keen, please read my review and sign up if you like it.