Week Ahead: Markets Mostly Sideways as Quantum Computing Stocks Enter Climatic Zone

Week Ahead: December 30, 2024

Macro News Summary:

· Markets largely traded sideways as we approach 2025, bidding farewell to another positive year in 2024.

· Quantum Computing stocks like RGTI, QBTS, and QUBT are showing a climactic trend, memories of the AI frenzy in 2021. Consider using trailing stops, such as the 13-day SMA, to manage risk. Reduce your holdings or take profits if prices trade below these levels.

· No specific ideas for the upcoming week.

· Note: This is a shortened trading week due to New Year’s Day.

Medium Term:

· S&P 500 (SPX): S&P 500 trading within a range bound 5,860 - 6100. We are monitoring technical signal for directional move.

· Straits Times Index (STI): STI trading within a range bound, 3,700-3,850. We are monitoring technical signal for directional move.

· Hang Seng Index (HSI): Hang Seng Index (Grey) continues to trade around 19,500 support zone. Nil major technical observations sighted.

Long Term:

· S&P 500 (SPX) trend remains upward

· Hang Seng Index (HSI) trend remains upward

· Straits Times Index (STI) trend neutral to upward trend.

Headlines Next Week:
- US PMI, Shortened trading week (New Year’s Day)

- China Caixin PMI

- SG Bank Lending, SIPMM Mfg PMI, Retail Sales

Disclaimers apply

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