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Weekly Market Outlook

 




Week of July 8, 2024
 
"Oh my gosh! I'm Anxiety! Where can I put my stuff?" from the movie "Inside Out 2". Anxiety often strikes when deciding whether to enter a trade when markets are "high" and continue to rise.

From my experience, position sizing and anxiety have an almost inverse relationship. Therefore, when markets are high but you still need to follow your trading process, reduce your position size. This allows you to participate with less anxiety, benefiting you as a trader or investor as you continue to follow your process.
 
US markets hit fresh highs this week, with the Singapore market also moving higher, thanks to the banking sector and SingTel. Meanwhile, Greater China equities continue to stay afloat at current support levels.
 
The next technical target for the S&P 500 is 5,680, while the next target for the STI is 3,500.
 
We will continue to look out for long trades in the coming week.
 
Headlines for the week:
- US Jerome Powell Congress Testimony, Jun CPI, Banks Earnings
- China Jun CPI, Jun Exports
- SG 2Q24 Adv Est GDP,
 
Disclaimers apply


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