S&P 500 at All Time High & Week Ahead

The S&P 500 has reached an all-time high, driven predominantly by the strength of tech stocks. From a technical standpoint, the index is showing resilience as long as it stays above the 4,800 level, leading us to anticipate a potential move towards the 5,000 mark. Nevertheless, our volume-based momentum indicator (FFI) is displaying divergence, prompting a degree of caution regarding the current phase of the rally.

In the semiconductor sector, stocks are still reaping the benefits of the ongoing upturn cycle, notably with NVidia (NVDA) taking the lead. Looking ahead, the upcoming week will feature Tesla's results, offering some valuable insights into the electric vehicle market, while Visa's report will shed light on consumer confidence.

Micron Tech (MU), price broke above consolidation range, potential move towards 94, possible 100. Stop below 84.00 (10 SMA).

Our stance on the US market remains bullish, maintaining a long position, but we exercise selectivity when it comes to the Singapore and Hong Kong markets.

Headlines for the week:
- Corp Earnings (Tesla, Netflix, Visa, Intel, SG REITs)
- US PCE, 4Q23 GDP
- China LPR Fixing
- SG Dec CPI, Dec Ind Prod, MAS Policy, Unemployment Rate

Disclaimers apply

Historical Stock Market Performance During the Year of the Snake (2025)

Historical Stock Market Performance During the Year of the Snake (2025) Introduction: The Chinese zodiac plays a fascinating role in shaping cultural beliefs and behaviors. Among the 12 zodiac animals, the Year of the Snake is often associated with intelligence, caution, and financial shrewdness. We take a simply review of three key indices, S&P 500, Hang Seng Index (HSI), and Straits Times Index (STI), annual performance during the Year of the Snake. Key Observations from the Data: S&P 500 Performance: Average annual return: 0.47% . Win/Loss ratio: 37.5% (3 years of gains vs. 5 years of losses). Notable years: 1989 marked a robust gain of 27.25% , while 1941 saw a steep decline of -20.22% , coinciding with global tensions during World War II. HSI Performance: Average annual return: -5.36% . Win/Loss ratio: 66.67% (2 years of gains vs. 1 year of losses). Notable years: The index's strongest year was 1989, with a return of 5.55% , while 2001 suffered a severe decli...

Week Ahead: US Indices Momemtum in Question

Week Ahead: 10 March 2025 Key event this week was U.S. indices technically closed below the key 30-week (or 150-day) moving average . For the upward trend to continue, the indices need to reclaim levels above the moving averages. Remaining below the 30-week (or 150-day) moving average could indicate that the upward trend has reversed downward. However, in the short term, we expect a rebound as the indices trade near their respective support levels. Medium Term: S&P 500 (SPX): The S&P 500 broke below its key upward trendline, which had been established since October 2023. In the longer term, we expect the index to trade sideways or move in a downward direction. In the short term, we anticipate the S&P 500 will find support at the 5,700 level and could rebound to test the 5,860 and then the 5,966 resistance zones. Straits Times Index (STI): The technical trend remains bullish. We maintain a constructive outlook while staying vigilant for any sig...

Palantir Technologies Inc PLTR: Technical Rebound at Sight After US Broad Market Stabilises

Palantir Technologies Inc. (PLTR) USD86.24 Palantir (PLTR) posted a bullish reversal, closing above the 13-day SMA (83.56) with significant volume expansion. This signals potential momentum strength in the near term. First key resistance zone between the 50% and 61.8% Fibonacci retracement levels (USD 99.85 – 105.79), which could present selling pressure. Disclaimers apply

Market Technician

Search This Blog