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

Palantir Technologies Inc PLTR: Technical Rebound at Sight After US Broad Market Stabilises

Palantir Technologies Inc. (PLTR) USD86.24 Palantir (PLTR) posted a bullish reversal, closing above the 13-day SMA (83.56) with significant volume expansion. This signals potential momentum strength in the near term. First key resistance zone between the 50% and 61.8% Fibonacci retracement levels (USD 99.85 – 105.79), which could present selling pressure. Disclaimers apply

DBS Group Holdings (D05) and Straits Times Index (STI): Technical Change of Momentum

DBS Group Holdings (D05) and Straits Times Index (STI): Technical Change of Momentum Recent price developments in DBS Group Holdings (SGX: D05) and the Straits Times Index (STI) signal a critical inflection point. Both instruments have breached established ascending trendlines, suggesting a potential reassessment in investor sentiment and market trajectory. DBS Group Holdings (D05) Price Dynamics: DBS has decisively broken below its ascending trendline, closing at SGD 44.23, registering a 3.53% decline. The price action underscores weakening upward momentum and raises the probability of an extended correction phase. Key Technical Levels: 38.2% Fibonacci retracement: SGD 41.45 50% Fibonacci retracement: SGD 39.78 61.8% Fibonacci retracement: SGD 38.12 Full retracement: SGD 32.72 Outlook: The breach beneath the trendline suggests an erosion of bullish conviction. Immediate attention should be on the 38.2% retracement le...

Week Ahead: US Indices Momemtum in Question

Week Ahead: 10 March 2025 Key event this week was U.S. indices technically closed below the key 30-week (or 150-day) moving average . For the upward trend to continue, the indices need to reclaim levels above the moving averages. Remaining below the 30-week (or 150-day) moving average could indicate that the upward trend has reversed downward. However, in the short term, we expect a rebound as the indices trade near their respective support levels. Medium Term: S&P 500 (SPX): The S&P 500 broke below its key upward trendline, which had been established since October 2023. In the longer term, we expect the index to trade sideways or move in a downward direction. In the short term, we anticipate the S&P 500 will find support at the 5,700 level and could rebound to test the 5,860 and then the 5,966 resistance zones. Straits Times Index (STI): The technical trend remains bullish. We maintain a constructive outlook while staying vigilant for any sig...

Market Technician

Search This Blog