Week Ahead: Key Levels to Watch as Markets Come to Terms with a Higher-for-Longer Fed Policy

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Week Ahead: 23 December 2024


Macro News Summary:

·       The November US PCE Index provided a boost to the equities market on Friday, as it rose less than expected.

·       The CNN Market Sentiment Gauge rebounded from the Extreme Fear zone, suggesting a potential opportunity for buying the dip.

·       Nil trading set up identified, we will update if we come across any.

·       This will be a shortened trading week due to Christmas Day.

 

Medium Term Outlook:

·       S&P 500 (SPX): The S&P 500 is trading at a key technical support level. The uptrend is expected to continue as long as the support area holds.

·       Straits Times Index (STI): The STI is trending lower in the short term. We are monitoring for potential reversal signals. The index is currently at its first support level of 3,720, with the next technical support at the 3,650 zone.

·       Hang Seng Index (HSI): The Hang Seng Index remains near the 19,500 support zone. No major technical developments have been observed at this time.


Headlines Next Week:
- US, shorten trading week (Christmas)

- China 1-yr MLF, LPR, Ind Prod

- SG Nov CPI, Ind Prod


Wishing all readers Merry Christmas and Happy Holidays.


Disclaimers apply