Market Technician

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  We continue practicing vigilance in the forthcoming week for both the US and Singapore markets, as indices face technical resistance levels. We aim to identify potential trading setups should the markets undergo correction. Meanwhile, the Hong Kong and China markets could persist in their rallies, as market technicals continue to build momentum. On Hang Seng Index (HSI), downtrend line violated. Expecting index to reverse into a more bullish tone. On Straits Times Index (STI),  Index is as resistance. Shortened trading week for US and Greater China markets for holidays. Headlines for Week Ahead: US FFED Chair Congress testimonial US PMI China Prime Rate SG May CPI Corp Earnings (FedEx) US mkts closed on Mon HK mkts closed on Thurs Blog disclaimers apply

  Market should be receiving the widely anticipated rate halt from US FOMC meeting week. Again, US FED Chair’s speech becomes critical in forecasting the committee’s interest rate policy.  Technically, S&P 500 remained halt by its 4,300 resistance level. Despite our team having an upward outlook, we will be cautious for the week ahead after the index having rallied close to 13% gain since March this year. We did not uncover any trade set up over the weekend but will continue to lookout as the week advance. Headlines for Week Ahead: US FOMC meeting US CPI, PPI Reports US Michigan Consumer Sentiment Report China Ind Prod, Retail Sales, Ppty Sales SG NODX Report Disclaimers apply

  The Vietnamese economy has faced significant challenges since late 2021, mainly due to the slowdown in global trade volumes and high inflation rates. However, with inflation gradually easing, Prime Minister Pham Minh Chinh has signaled his intention to introduce growth-boosting policies . The Vietnam index has also shown promising signs, having exited its previous downtrend channel and now seemingly consolidating. Given the current momentum, we expect the index to revisit its recent high of 1,120, and potentially surge towards the 1,200 mark if this positive trend persists. https://www.bloomberg.com/news/articles/2023-06-03/vietnam-s-pm-urges-focus-on-growth-with-inflation-under-control?sref=HeOgpUGN Disclaimers apply

  The equities market enjoyed a surge last week, bolstered by the successful resolution of the US debt ceiling crisis. Additionally, the release of promising US jobs data and a better-than-expected report on China's manufacturing sector offered further impetus to the markets. In the East, despite ongoing efforts to stimulate its economy following the lifting of lockdown measures, China continues to grapple with a challenging recovery process. This struggle is primarily due to an economic crackdown and weak exports. As a result, market analysts anticipate that Beijing will amplify its stimulus strategies to rekindle domestic growth. Based on these positive signals and the prospect of increased stimulus, alongside appealing valuations, we anticipate this upward trend to persist. JD.com (9618, HK): Expecting Trend Change . Weak supply effort observed with relative strength and fund flow improving. We expect rebound to continue towards HK$160 level, with stop loss price below HK$122.7