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Showing posts from April, 2024

Weekly Markets Outlook

  Thoughts on Week Ahead:  Week 15 April 2024 As we embark on the week ahead, it's important to acknowledge the evolving landscape of market dynamics. Quoting from Netflix's '3 Body Problem,' we find ourselves in what could be termed a 'Chaotic era.' The S&P 500 has entered a phase of increased volatility, signaling a potential sideways or downward trend in the short to medium term. Initial technical support rests at the 5,050 level, marking a retracement of 23.60%. This shift in trend is likely influenced by stronger-than-anticipated inflation data and job reports, prompting the US Federal Reserve to prolong its 'higher for longer' rate policy. While bank earnings have failed to meet market expectations thus far, the onus now falls on broader market earnings to sustain current optimism. Failure to do so could result in investor sell-offs. China A50 Index failed to break above trend resistance, cautious o n tactical trades for Greater China. Gold e

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Tactical Allocation - Chow Tai Fook (1929)

  Chow Tai Fook (1929): is currently consolidating within a trading range, showing potential for a price breakout to the upside. Historically, the movement of gold prices tends to precede that of Chow Tai Fook. The initial target price is set at HK$13.80, with a secondary target of HK$15.80 if momentum continues. However, this outlook becomes invalid if the price falls below S$9.95. Disclaimers apply

Weekly Markets Outlook

  Weekly Market Outlook:  8 April 2024 Last week marked a critical juncture for US markets as the S&P 500 broke below its upward trendline support, suggesting the possibility of sideways or downward trends in the medium term. Short-term traders in the US market are anticipated to exercise caution, while long-term investors will be seeking opportunities to take profits and adjust their positions. Companies exposed to oil or gold may attract investing interest as commodity prices surged during the week. Looking ahead to the coming week, investors will closely observe the market's response to Tesla's Robotaxi initiative, speculating whether this technology will spark a surge in research and development and production of AI-driven transportation. Furthermore, investors will keep an eye on the US Federal Reserve minutes to gauge the level of confidence in potential rate cuts despite the resilient jobs report. Headlines for the week: - Corp Earnings (JPM, WFC, BLK, C) - US FOMC

More Upside to Gold?

  Chart: Gold inflow/outflow year-till-date, ETF.com There are suggestions stating the surge in gold prices likely attributed to central banks increasing their gold reserves. Should investors follow suit, it could potentially lead to a bullish pressure, driving the price of gold even higher. Disclaimers apply

Weekly Markets Outlook

  Thoughts on Week Ahead: Week 1 April 2024 This week investors are flooded with economic data as we enter a new month and quarter. The US jobs report on Friday is especially important because it will provide clues about wage inflation. The technical picture for major markets is mostly unchanged from last week. The S&P 500 is bullish, but we are careful because trading volume and FFI indicator (Chart) is not keeping pace with price increases. Both the Straits Times Index (STI) and the China A50 Index are still trying to break through resistance at their trendlines. We are waiting to see a clear direction emerge in both markets. Upward trajectory observed in Brent crude oil may indicate potential opportunities within the energy sector stocks. Headlines for the week: - US NFP report, ISM report - China Mar Econ reports - SG PMI Survey, Retail Sales, MAS Announcement Disclaimers apply