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 have been earning 12% annual interest rate on my USD equivalent deposit with Hodlnaut. If you are interested in how I did it, please read my review about Hodlnaut and sign up if you like Hodlnaut.

FTX is the crypto exchange that I use the most. This referral code (not mine) offers 10% discount when others are 5% only. If you are keen, please read my FTX review

I use Tiger Broker app regularly because of its user-friendliness. If you are keen to try out, please read my review about Tiger Brokers and sign up if you like Tiger.