In this scenario, it would be very bad... Wave 3 is the strongest wave, and wave 3 of 3 will definitely smash most supports like bean curd.
The below shows my chart and my expected wave counts:
The Bollinger Band has widen tremendously, signifying great volatility. Other indicators are also negative bias, although some are on the oversold region.
The only hope lies in the hammer seen in today's close, but I doubt this hammer would be confirmed today, given that Dow Jones is now down over 400 points (3.71%).
Sell in May and go away? Perhaps. As a primary dividend investor, I will look to buy some dividend stocks when the Bollinger Band starts closing up again, perhaps for a B wave up.
Europe's problems are definitely far from over.
Hi Momo
ReplyDeletegreat article. What are the high dividend stocks you're looking at ? Can share ?
ssgtrader
Hi ssgtrader,
ReplyDeleteit would be the common ones:
REITs and Trusts
SPH
Starhub
Perhaps M1
Aztech (again? maybe.... maybe not...)
Neratel! (30cts would be 10% yield!)
GRP if 20cts
Uob kayhian
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