Skip to main content

Global Week Ahead: Earnings Season All About Forward Guidance

 

Global Weekly Market Outlook — Week of 21 April 2025

Macro Pulse
Policy remains the key driver of market direction.
This week, focus shifts away from headline 1Q earnings numbers and toward forward guidance, tariff exposure, and supply chain commentary.

The Trump administration announced docking fees on Chinese vessels and signaled the final phase of reciprocal tariffs. Meanwhile, the TikTok deal appears delayed.

Markets are expected to trade tactically, with US policy and earnings tone setting the pace.

Index Technical & Momentum Views
S&P 500 (SPX)
• Trend Signal: Downtrend intact
• Setup: Price is testing the downward trendline — a potential inflection point
• Base Case: Sideways consolidation between 4,800–5,600
• Action Plan: Monitor for breakout confirmation above trendline; current setup favors tactical range plays


Chart Commentary
S&P 500 (SPX): The S&P 500 Index is approaching its downward trend line, and we are closely monitoring price action at this key technical level. A breakout above could serve as an early indication of a potential trend reversal.

Our base case remains that the index will continue to trade sideways in the week ahead.


Hang Seng Index (HSI)
• Trend Signal: Uptrend continues
• Setup: Price rebounding within ascending channel
• Base Case: Rebound extension likely; watch 21,000–21,600 range
• Action Plan: Long bias intact. Add on dips towards 21,000

Chart Commentary
Hang Seng Index (HSI): Our China Market Long-Term Cycle indicator continues to reflect a sustained upward trend, while the Hang Seng Index (HSI) remains within its established ascending trend channel.

Our base case anticipates a continued rebound in the HSI. Alternatively, the index may consolidate within the 21,000 to 21,600 range.

Straits Times Index (STI)
• Trend Signal: Uptrend
• Setup: Strong 350-point rebound, breakout above 3,700 resistance
• Base Case: Consolidation at highs or potential extension
• Action Plan: Accumulate on dips toward 3,580 support. Break above 3,720 signals further upside

Chart Commentary
Straits Times Index (STI): The Straits Times Index (STI) staged a strong rebound of 350 points, breaking above its short-term downward trend line and closing above our key resistance level at 3,700. Immediate Support at 3,580.

Looking ahead, we expect the index to consolidate at current levels or extend its gains in the coming week.


Long Term Trend Bias Summary
SPX – Downtrend
HSI – Uptrend
STI – Uptrend

Headlines Next Week:
- US Corp Earnings: GOOG, TSLA, PG, MRK, CVX, ABBV, PEP, UNP, RTX, CAT
- SG Corp Earnings: SIA, SingPost, OCBC, UOB, CapLand Inv, Keppel, Kep REIT, Kep Inf Tr, Mapletree Log Tr, Suntec REIT, CapLand China Tr, CapLand India Tr, OUE REIT
- US FED Chair Powell speaks, Retail Sales, Ind Prod
- China 1QGDP, Ind Prod, Retail Sales
- SG CPI, Ind Prod

Technical Insight of the Week
"Price approaching trendline resistance warrants patience — inflection points often trap early trades."

Disclaimers apply. This outlook is intended for educational purposes only. Not financial advice.

Most Popular

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...
Read more

Week Ahead: Trump Trade and the Resilient US Economy

  Week Ahead, 9 Dec 2024 Macro News: U.S. markets continued their record-breaking streak this week following a reassuring speech by U.S. Federal Reserve Chair Jerome Powell, highlighting Fed's cautious yet comfortable stance on rate cuts. Beneficiaries of the "Trump Trade" also saw significant gains, with Tesla Inc. rising by +12.77% and Bitcoin up +2.24% for the week. The U.S. technology sector, represented by the QQQ ETF, also performed strongly, boosted by Friday's jobs report, which indicated a resilient economy. Meanwhile, the Hang Seng Index (2800 ETF) experienced a technical turnaround, gaining +2.28% this week. The rally was fuelled by speculation that Beijing might introduce additional lending and mortgage rate cuts to stimulate the economy. Medium Term: • S&P 500 (SPX): Index remains above the 6,000 level and could trend towards the 6,180 zone. • Straits Times Index (STI): STI reversed near our 3,860 resistance zone. We are neutral and is looking out for...
Read more

Yangzijiang Shipbuilding Ltd (BS6) – Bullish Momentum Boosting Near-Term Outlook

  Yangzijiang Shipbuilding (YZJ) has been exhibiting favourable technical and fundamental observations. 1. Technicals The chart shows a price  breakout above S$2.75 , which had previously served as a strong resistance level. This breakout occurred with increasing volume, indicating strong buying momentum. Price Targets: - 1st Target: S$3.0 - 2nd Target: S$3.20 - Trailing Stop Loss Box (7): S$2.36 (Current) These targets are in line with Fibo extension, 1.618% (S$3.02) and 2.0 (S$3.19). Support and Stop-Loss Investors should keep an eye on the trailing stop at S$2.36 , derived from current Box (7) value. Relative Strength While the stock is outperforming the STI index , the relative strength index (RSI) is not yet overbought, signaling room for further upward movement. 2. Fundementals YZJ's robust strong order and  underlying structural trend in s hifting to clean Energy Vessels  container and LNG vessels, continues to support company's order book , which extends i...
Read more