Weekly Market Update

Thoughts on the Week Ahead:

Week of 10 June 2024

Yes, at 39, Cristiano Ronaldo, will be joining Portugal's squad this coming weekend for the UEFA Euro Cup 2024. And who do you think will be crowned the Kings of Europe this year?

Most of our focus will be on the upcoming US FED FOMC announcement. The market largely expects no changes to the target rate. However, our eyeballs and ears will be on the FED Chairman’s speech, particularly if the committee continues to believe that inflation has plateaued, after a hotter-than-expected jobs report on Friday.

Markets are expected to be muted ahead of the announcement, and Chairman Powell’s speech could lead to directional moves for bonds and equities. Nvidia’s stock spilt on Monday will also be watched by many, if a “cheaper” Nvidia would attract more investors interest.

Technically, the S&P 500 is hovering below its key resistance area of 5,426, with our Fund Flow Index (FFI momentum Indicator), indicating uncertainties in the market. We will be extra cautious for the coming week.

Meanwhile, both the HSI and China A50 continue to retreat, searching for technical support, after a recent spree of dilutive convertible bonds issued by Chinese tech companies.

Nil trading set up observed for the week ahead, and we will update when we identify any.

Headlines for the week:

- US FOMC, CPI, PPI

- China CPI

Disclaimers apply

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

DBS Group Holdings (D05) and Straits Times Index (STI): Technical Change of Momentum

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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...

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