Thoughts on Week Ahead: Week 8 Jan 2024
on Week Ahead:
Week 8 Jan 2024
Hope you enjoyed the holidays and ready for the markets. Many investors would be interested what’s the markets ahead in 2024, so I’m sharing some interesting stats using Bard.
I asked Bard 2 questions. First, what is the year-end performance of S&P 500 if the first week of trading is down. Next, I’ve also asked what is the year-end performance for the Year of the Dragon.
The result is S&P 500 tend to see an average -6.8% return if first week ends negative. While, on a brighter note, year of Dragon experience an average real gain of +6.2% at the end of the year.
This proofs to be another year of staying adaptable to the investing environment and risk management.
Over the past week, markets mostly dipped after US FED minutes revealed reluctance to adjust rates lower as market has anticipated. Also, profit-taking ahead of the earnings season could have contributed to the selling.
Currently, support levels observed for S&P 500 is 4,650, STI at 3,150, while minor support level for HSI is at 16,500, and key support level at 16,500.
US Financial Sector is showing positive momentum. Thus, its components stocks would be our likely candidate for tactical trading.
We have nil set up for the week ahead and will alert when there is any. Wishing all a great trading and investing year ahead.
Headlines for Week Ahead:
- Corporate Earnings (US Financials)
- US CPI report
- China CPI report, Trade report