Week Ahead 23 - 27 March
Headlines Next Week:
US: US PMI (Mar), US Fed officials speaks, ME development
China: China Feb Ind Profit
Singapore: Feb CPI, Feb Industrial Prod
Since the onset of US-Iran tensions, for US market, maintaining elevated cash positions to await opportune entry points has proven beneficial, particularly should the conflict escalate or persist.
For Singapore market, cash with some STI exposure has been more effective.
Cash instruments:
- SGD Money Market ETF (MMS: SGX)
- Fullerton SGD Income Fund (SG9999005961)
- Fullerton USD Income Fund (SGXZ99103178)
Disclaimers apply.
S&P 500 (SPX):
The Index has breached a multi-month support level, exhibiting a bearish reversal pattern. This pattern would be invalidated should the S&P 500 reclaim 6,550. Our current outlook anticipates the S&P 500 trading towards 6,181.
Tactical Trade:
Selective short (bearish) trades on rally preferred.
Long Term Direction:
Upward trend, but cautious, as bearish chart pattern is observed.
Directional Probability:
Bullish (break above 7,002): 2%
Rangebound (6,550–7,002): 33%
Bearish (Towards 6,181): 65%
Hang Seng Index (HSI):
Index at key inflection point. Either trendline and 25,150 horizontal support hold together, or the index breaks below towards 24,031, potentially forming a bearish reversal pattern.
Tactical Trade:
Neutral. Lookout for directional move.
Long Term Direction:
Upward trend (Cautious)
Directional Probability:
Bullish (Above 28,500): 5%
Rangebound (25,150–28,500): 50%
Bearish (Below 25,150): 45%
Straits Times Index (STI):
Index trading at 5,041 resistance level. Monitoring supply and demand dynamics on STI’s probable trend.
Tactical Trade:
Neutral
Long Term Direction:
Upward Trend (Cautious)
Directional Probability:
Bullish (Break above 5,041): 10%
Rangebound (4,697 - 5,041): 60%
Bearish (below 4,697): 30%
Disclaimers apply