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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 on tactical trades for Greater China.

Gold experienced climatic action on the final day of the trading week, we expect price to consolidate in the near term.

As we navigate this dynamic landscape, we haven't identified any specific trading opportunities for the upcoming week. And we will promptly update should any arise.

Headlines for the week:
- Corp Earnings (GS, BAC, MS, LVS, Netflix, PG, Capital Intg Comm Trust)
- China 1Q24 GDP & Econ data
- SG Mar NODX

Disclaimers apply


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