Week Ahead: US Markets Stabilising Technically, awaits 2nd April ‘Liberation Day’

Week Ahead: 24 March 2025

Medium Term:

S&P 500 (SPX): The S&P 500 continues to hover around the 5,500 level (Fibonacci 1.618% support) and is showing increasing evidence of potential to test the resistance zone at 5,780–5,840, where previous support has turned into resistance.

Straits Times Index (STI): The Straits Times Index (STI) traded above its key resistance zone of 3,850–3,900. As long as the index holds above this resistance-turned-support level, it could potentially test the 4,000 resistance level.

Hang Seng Index (HSI): The China A50 Index (grey line) continues to trend upward, while the Hang Seng Index (candlestick) is encountering resistance around the 24,800 zone and approaching a key resistance level at 24,905. While our long-term outlook remains bullish, we maintain a cautious stance in the short term.

Long Term:

S&P 500 (SPX) Neutral (Upward trend remains intact, while downward trend could be developing)

Hang Seng Index (HSI) Upward Trend

Straits Times Index (STI) Upward Trend

Headlines Next Week:

- China Corp Earnings: BYD, Bank of China

- US Speeches by FED officials, PCE, S&P PMIs

- China MLF Rate

- SG CPI, Ind Prod

Disclaimers apply

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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...

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