Week Ahead: Sustaining December’s Investor-Friendly Momentum

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.

Medium Term:

· 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

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