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Thoughts on Week Ahead 27 Feb 2023: Stock Market Indices Nearing Technical Support

 






The equity market has been adversely affected by uncertainties surrounding interest rate hikes, causing it to decline. However, this decline has brought the S&P 500 and Hang Seng Index closer to their respective key support levels of 3,900 and 19,500.


Following the release of hot PCE data on Friday, the market is now pricing in a peak US FED rate hike of 5.50% for the rest of 2023, which is being driven by strong US consumer spending. As a result, there is an interest in closely monitoring the technical price action at the above-mentioned support levels.


Currently, there are no trading ideas for the upcoming week, but there is a preference for companies that focus on AI-related and reopening themes.


Disclaimers apply

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