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Stock market consolidating for directional move

 


Thoughts on Week Ahead:
Week 11 Sept 2023

Stock market consolidating for directional move
In the US, stocks fell for the third consecutive week, with the S&P 500 index down 1.29%. Possible driver of the sell-off could the decision by Saudi Arabia and Russia to extend their oil production cuts until the end of the year, adding to potential inflationary pressure.

Technically, S&P 500 continues to consolidate around 4,400-4,500 area for directional move. While HSI, pulls back to 18,200 area on weak China economic data. 

We have yet to uncover tactical set up for the week ahead but will remain on the lookout. Have a great trading week ahead. 

Headlines for Week Ahead:
Apple Event (Tues)
US Aug Inflation, PPI, Retail Sales Report
China Employment, Ind Prod, Retail Sales
SG 2Q23 Employment Report 
SG Presidential Inauguration (Non-mkt event)
SG F1 Race Weekend (Non-mkt event)

Disclaimers Apply

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