Weekly Market Outlook

Thoughts on Week Ahead:

Week 29 April 2024

Google entered the prestigious 2T club on Friday following its earnings announcement, contributing to the momentum of the stock market rally. The exclusive group of companies valued at over $2 trillion now includes Apple, Microsoft, Google, and Nvidia. A lighthearted suggestion for this elite group could be the "Fantastic 4," and perhaps humorously dubbed "MANGO" if Oracle could join the ranks.

From a technical standpoint, the S&P 500 found support at the 4,950 level, indicating expectations for the index to trade within a range of 4,950 to 5,260.

The upcoming US Federal Open Market Committee (FOMC) announcement next week garners significant attention, particularly regarding adjustments to inflation forecasts and the outlook for 2024 rate cuts.

A notable development from the past week was the Hang Seng Index (HSI) and China A50 breaking above their respective medium-term downtrend resistance, suggesting a potential bottom for both indices. This could prompt investors to consider adding exposure to the China market in their core portfolios and engaging in more tactical trades within the Greater China markets.

DBS Group (D05) is set to announce earnings on Thursday, which could influence directional movements for Singapore banks and the Straits Times Index.

Headlines for the week:

- US Corp Earnings (Amazon, Eli Lilly, Coca-Cola, McDonald's, Mastercard, Qualcomm, Apple and Booking)

- SG Corp Earnings (DBS, REITs, Wilmar)

- US FED FOMC, Jobs Report

- China PMI, Labour day holiday

- SG PMI, retail Sales, Labour Day

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

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