With reference to my market outlook HERE posted on 11 May 2018, I mentioned at that time that I  have started to sell into strength, as I am cautious on the overall market. I updated on 30 May 2018 (click HERE) that STI is likely to trade sideways with downward bias. Separately, my clients would have been notified on 12 Jun 2018 morning that I have already reduced my percentage invested to approximately 40% as I believe market is likely to trend downwards in the next couple of weeks.

In the span of four trading days, STI has dropped 148 points from an intraday high of 3,449 on 12 Jun 2018 to close 3,301 on 19 Jun 2018.  In fact, it has fallen 341 points, or 9.4% after touching an intraday multi year high of 3,642 on 2 May 2018.

Is this the start of a correction? …