Cautious as earnings season starts


Straits Times Index (STI)

S&P 500

Cautious as earnings season starts
Earnings season is here, and investors are feeling cautious. The S&P 500 failed to breach the mid-June 4,450 high and reversed to fill the 4,400-4,350 gap. This is not positive for the near term. Key support at 4,320, and if this level holds, we could continue to see upside on the S&P 500. However, if 4,320 is breached, the volatility could extend further.

Straits Times Index (STI) on the other hand, broke immediate support, could see index trade lower towards, 3,100. For any bullish case, we need index to trade back above the supporting trendline.

We have not located any trade setups for the week ahead, but we will update you if we identify any potential trade setups.

Headlines for Week Ahead:
Start of the Q2 earnings season 
(US Banks on Friday)
FOMC Beige Book report
US FED officials will speak at events
China CPI
SG 2Q23 GDP (Adv Est)

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