Week Ahead: DBS Group Results Announcement and US President Trump's Trade Tariffs Expected to Set the Tone for Markets This Week

Week Ahead: 10 Feb 2025

It’s Sell-Off Friday again for the third consecutive week, as investors saw the market close lower after U.S. President Trump announced plans to impose reciprocal tariffs on multiple countries next week. We are turning cautious on the S&P 500 after the index rejected the key 6,100 level for the fourth time this week. Alternatively, a breakout above this level would signal the continuation of the uptrend.

DBS Group’s earnings announcement on Monday before market open is expected to set the tone for the Singapore market. On the chart, the stock is trading within the $43.00 – $45.00 range. Our volume-momentum indicator (FFI) and relative strength indicator are showing positive readings. Thus, while we remain cautious, there is potential for the bank stock to trade higher following the results announcement.

The STI's technical outlook remains positive. Holding above the 3,850 level could see it trading toward 4,000. DBS Group’s results on Monday are expected to be the key catalyst for the index's directional movement.

Regarding the Chinese economy, Chinese New Year holiday spending has been encouraging. During this year’s festive break, 5.9% more trips were made, while spending increased 7% compared to the previous year. Meanwhile, sales of household appliances and communication equipment from retail enterprises surged by over 10% year-on-year.

Technically, both the Hang Seng Index (HSI) and CSI 300 continue to rebound from their respective support levels. The Hang Seng Index, given its current momentum, could trade toward 22,500, with immediate support at 20,000.

No tactical ideas spotted. We will provide an update if any emerge in the coming week.

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 Corp Earnings: McDonalds, Coca-Cola, Shopify, Gilead Science, Cisco Sys, Applied Mat

- SG Corp Earnings: DBS, REITs,

- US Jan CPI, Powell to deliver testimonies to congress

- China Jan CPI

Disclaimers apply

Historical Stock Market Performance During the Year of the Snake (2025)

Historical Stock Market Performance During the Year of the Snake (2025) Introduction: The Chinese zodiac plays a fascinating role in shaping cultural beliefs and behaviors. Among the 12 zodiac animals, the Year of the Snake is often associated with intelligence, caution, and financial shrewdness. We take a simply review of three key indices, S&P 500, Hang Seng Index (HSI), and Straits Times Index (STI), annual performance during the Year of the Snake. Key Observations from the Data: S&P 500 Performance: Average annual return: 0.47% . Win/Loss ratio: 37.5% (3 years of gains vs. 5 years of losses). Notable years: 1989 marked a robust gain of 27.25% , while 1941 saw a steep decline of -20.22% , coinciding with global tensions during World War II. HSI Performance: Average annual return: -5.36% . Win/Loss ratio: 66.67% (2 years of gains vs. 1 year of losses). Notable years: The index's strongest year was 1989, with a return of 5.55% , while 2001 suffered a severe decli...

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...

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

Market Technician

Search This Blog