Market Technician

  Thoughts on Week Ahead: Week 25 March 2024 This week investors are looking for US FED's policy moves from Chief Jerome Powell speech scheduled for Friday and PCE print on Thursday. Technically, S&P 500 continues to display bullish behaviour, and has crossed our 5,200 resistance. However, we are cautious on the market as trading volume against price is not supportive (FFI reading diverging from index trend). Both Straits Times Index and China A50 Index are challenging their respective trendline resistance . We are looking for directional moves on both markets.  We continue to monitor for trading set up for the week ahead.  Headlines for the week: - US PCE, US FED Chair speaks - SG CPI, Ind Prod - Short trading week (markets closed for Good Friday) Disclaimers apply

  Trade Strategy Review Occasionally, you may find a trading setup appealing, yet certain aspects may cause you to hesitate before entering the trade. Take BRC Asia (BEC) as an example. The setup might seem risky due to the stock's limited activity. However, it's possible to proceed with the trade by allocating a smaller portion of your portfolio and closely monitoring the stop-loss point (40SMA). Disclaimers apply

  Thoughts on Week Ahead: Week 18 March 2024 The latest US CPI and PPI reports have surpassed expectations , reigniting concerns about inflation. The US Federal Reserve is anticipated to prolong its pause on interest rate hikes until inflationary pressures ease. We anticipate that banks will benefit from the recent CPI report s, while REITs may encounter selling pressure from investors. Although investors widely anticipate the US Federal Reserve to maintain current interest rates during next week’s FOMC meeting, the Chairman's speech will be pivotal to investors on the committee’s policy outlook. The S&P 500 is approaching its trendline support, while the China A50 index nears its trendline resistance . We are closely monitoring both indices for any significant directional moves. Meanwhile, the STI remains within a gradual downward channel, exhibiting oscillatory behavior." Similar to last week, we maintain a cautious stance on the markets this week as earnings season dr

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  US 7-10yrs Treasury ETF (IEF): Poised to breakout from downward trend line in view of a less hawkish interest rate outlook. Stop below 92.00. Disclaimers apply

  Thoughts on Week Ahead: Week 11 March 2024 While the overall trend is still upward, we're adopting a more cautious stance towards the stock market, especially as the S&P 500 approaches our short-term target resistance of 5,200 and has finished the day down. Additionally, significant sell-offs were seen in key stock Nvidia Corp (NVDA) and the prominent sector Phil Semicon Index (SOX). Market participants could be turning cautious too as the earnings season comes to a close while the Federal Open Market Committee (FOMC) meeting nearing on March 20th, In light of these developments, we plan to be particularly selective on our trades over the next week. Lastly, please note that US markets start 9.30pm (SG) as US daylight savings starts. Disclaimers apply

  MSFT: Breaks above trading range with potential first target at 443.50, and stop below 397.50 IBM: Breaks above trading range with potential first target at 200.00 and stop below 181.50 Disclaimers apply

  Thoughts on Week Ahead: Week 4 March 2024 Much like Taylor Swift's lyrics, "I shake it off, I shake it off," the US markets shrugged off concerns regarding high interest rates and recession. And instead, persist in an upward trajectory, at new all-time highs. From a technical standpoint, the S&P 500 maintains its upward trend, facing potential resistance at 5,200 with support at 5,000 level. In contrast, the Singapore market treads cautiously, residing within a gradual downward channel. Meanwhile, the China A50 Index holds firm above the 11,200 support level, shows promise in challenging its downtrend line resistance in the near future. We favour long trades in the US market, exercising caution and selectivity in the Singapore and China Hong Kong markets for the week ahead. Headlines for the week: - Corp Earnings (Target, Costco, Adobe) - US FED officials speak, NFP report, ISM Servies PMI, JOT Job Openings  - China Annual Two Sessions Meeting - SG Feb PMI, Retail