Week Ahead 8 - 12 June
SPACE X IPO to take spotlight for the week ahead.Headlines:
US: May CPI, core CPI, PPI
China: May Trade report, CPI, PPI
Singapore: Employment Report
S&P 500 (SPX):
Sell off confirmed multiple weeks of FFI weakness. 7,455 continues to be rejected. Index needs to sustain above 7,333 to resume upward trend. Closing below support, suggest bearish technical trend.
Tactical Trade:
No new longs at current levels, until FFI
Long Term Direction:
Uptrend (towards Neutral)
Directional Probability:
Bullish (Breakout 7,455 toward 7,900): 15%
Range (7,003–7,455): 55%
Bearish (Breakdown 7,003 toward 6,550): 30%
Hang Seng Index (HSI):
Index failed to sustain above 25,146, technically probability of downward move increases. FFI slowed, but remained in negative area.
Tactical Trade:
Neutral
Long Term Direction:
Neutral
Directional Probability:
Bullish (Break 27,383, toward 29,618): 5%
Rangebound (25,146–27,383): 40%
Bearish (Break 25,146, toward 22,910): 55%
Straits Times Index (STI):
Index continues to trade at key resistance level, FFI slowed but still in positive territory.
Tactical Trade:
Neutral
Long Term Direction:
Upward Trend
Directional Probability:
Bullish (Break 5,041, toward 5,385): 30%
Rangebound (4,697 – 5,041): 60%
Bearish (Break 4,697, toward 4,353): 15%
Disclaimers apply