2023 had been hell of a roller coaster ride. From bank crisis in March 2023 to interest rate peaking, it seems like we are going to enter 2024 with an expectations of multiple interest rate cuts with inflation coming down to 3.14% from its peak of 9.06% (a year ago the inflation rate was 6.45% as at end of December 2022).
I am always bullish on US markets, and I am already heavily invested with all cash deployed into my favourite stocks. My only regret is that I did not start to realize the potential of US markets earlier when I was wholly invested into Malaysia markets that does not provide me as much return as compared to S&P500 (I kind of caught the bottom during Covid levels, oil stock was my play and unfortunately I only managed to capture a 100% return instead of 200-300% which S&P500 is able to.
Looking at the technicals of S&P500, I won't be surprised if we see a pullback in first quarter of 2024. MACD and RSI are at overbought levels, fear & greed index is at extreme greed level. For now I have exited all of my trading portfolios with roughly 5-10% gains from 1 month return and I am ready to deploy them again once the pullback occurs, however for my investing portfolio, I will only be selling more covered calls and will sell more puts when the pullback hits to key levels.
I am extremely bullish on 2024 when we enter the year with expectations of interest rate cuts as compared to 2023 when we entered with expectations of interest rate hikes.
Cheers,
Tim
I am always bullish on US markets, and I am already heavily invested with all cash deployed into my favourite stocks. My only regret is that I did not start to realize the potential of US markets earlier when I was wholly invested into Malaysia markets that does not provide me as much return as compared to S&P500 (I kind of caught the bottom during Covid levels, oil stock was my play and unfortunately I only managed to capture a 100% return instead of 200-300% which S&P500 is able to.
Looking at the technicals of S&P500, I won't be surprised if we see a pullback in first quarter of 2024. MACD and RSI are at overbought levels, fear & greed index is at extreme greed level. For now I have exited all of my trading portfolios with roughly 5-10% gains from 1 month return and I am ready to deploy them again once the pullback occurs, however for my investing portfolio, I will only be selling more covered calls and will sell more puts when the pullback hits to key levels.
I am extremely bullish on 2024 when we enter the year with expectations of interest rate cuts as compared to 2023 when we entered with expectations of interest rate hikes.
Cheers,
Tim