Week Ahead, 2 Dec 2024
Macro News:
Despite inflation remaining firm, the market continues to
expect that the US Federal Reserve has a higher probability of cutting rates by
25 basis points at the upcoming FOMC meeting. December marks the final month of
2024 as we approach the year's end. Historically, the S&P 500 Index has
been favorable to investors in December, with a 70.83% probability of a
positive return and an average gain of 0.74%. We hope these trends persist in
2024.
Currently, we have not identified any trade setups. We
will provide updates if any opportunities arise.
·
S&P 500: The S&P 500 remains
above the 6,000 level and could trend towards the 6,180 zone.
·
STI: The STI remains at the 3,700
resistance zone, with no major technical signals observed. If momentum
sustains, the index could move towards the 3,860 level.
·
HSI: The China A50 Index cycle remains in
an upward trend. The Hang Seng Index (grey) is currently at 19,000, the second
support zone (Fibonacci 61.80%).
Long Term:
·
S&P 500 remains upward
·
Hang Seng Index (HSI) remains upward
·
Straits Times Index (STI) neutral to upward
trend.
Headlines Next Week:
- US Jobs Report, ISM Mfg and Services PMI, Speeches from US FED officials,
- China Nov
Caixin Mfg PMI
- SG Nov
PMI, Retail Sales
Disclaimers
apply