Technical observations on Zoom Video (ZM) 1. Distribution Phase This phase occurs at the top of the trend (mid-2020 to early 2021 in the chart), indicating a shift from an uptrend to a downtrend. The large price drop suggests that the "smart money" or institutional players are offloading their positions. The clear price structure indicates that sellers dominated during this phase. 2. Mark Down Phase The significant price decline following the distribution phase highlights the "Mark Down." This is the bearish trend that follows after distribution, as seen with the consistent downward trajectory of price through 2022 and 2023. The trendline marking the downward slope indicates a persistent bearish environment. 3. Accumulation Phase In 2023, the price appears to have entered a sideways consolidation range. This is suggestive of a potential accumulation phase. Here, the smart money is likely building positions, anticipating a future uptrend. The decreasing volume duri
Week Ahead, 28 Oct 2024 As demand for Labubu soars, markets are becoming more cautious in anticipation of potential surprises, with the U.S. Presidential Election approaching. Macro News: - Israel has launched strikes on targets across Iran, and investors are closely monitoring the situation for any further escalation, particularly its impact on oil prices. - Strong U.S. economic data continues to provide upward support on long-term interest rates , putting ETFs like TLT under pressure. Market Trends: Medium Term: - The S&P 500 is trading around our 5,900 technical target level. We remain cautious for the week ahead and are closely monitoring directional movements. - The STI is trading within the 3,570-3,640 range. Likewise, we are keeping an eye on potential directional shifts. - The HSI remains at its first support level of 20,600 (Fibonacci 38.2%). Long Term: - S&P 500 remains upward - Hang Seng Index (HSI) remains upward - Straits Times Index (STI) neutral to upward tren