Market Technician

  Registration: Click HERE

  Chow Tai Fook (1929): is currently consolidating within a trading range, showing potential for a price breakout to the upside. Historically, the movement of gold prices tends to precede that of Chow Tai Fook. The initial target price is set at HK$13.80, with a secondary target of HK$15.80 if momentum continues. However, this outlook becomes invalid if the price falls below S$9.95. Disclaimers apply

  Weekly Market Outlook:  8 April 2024 Last week marked a critical juncture for US markets as the S&P 500 broke below its upward trendline support, suggesting the possibility of sideways or downward trends in the medium term. Short-term traders in the US market are anticipated to exercise caution, while long-term investors will be seeking opportunities to take profits and adjust their positions. Companies exposed to oil or gold may attract investing interest as commodity prices surged during the week. Looking ahead to the coming week, investors will closely observe the market's response to Tesla's Robotaxi initiative, speculating whether this technology will spark a surge in research and development and production of AI-driven transportation. Furthermore, investors will keep an eye on the US Federal Reserve minutes to gauge the level of confidence in potential rate cuts despite the resilient jobs report. Headlines for the week: - Corp Earnings (JPM, WFC, BLK, C) - US FOMC

  Chart: Gold inflow/outflow year-till-date, ETF.com There are suggestions stating the surge in gold prices likely attributed to central banks increasing their gold reserves. Should investors follow suit, it could potentially lead to a bullish pressure, driving the price of gold even higher. Disclaimers apply

  Thoughts on Week Ahead: Week 1 April 2024 This week investors are flooded with economic data as we enter a new month and quarter. The US jobs report on Friday is especially important because it will provide clues about wage inflation. The technical picture for major markets is mostly unchanged from last week. The S&P 500 is bullish, but we are careful because trading volume and FFI indicator (Chart) is not keeping pace with price increases. Both the Straits Times Index (STI) and the China A50 Index are still trying to break through resistance at their trendlines. We are waiting to see a clear direction emerge in both markets. Upward trajectory observed in Brent crude oil may indicate potential opportunities within the energy sector stocks. Headlines for the week: - US NFP report, ISM report - China Mar Econ reports - SG PMI Survey, Retail Sales, MAS Announcement Disclaimers apply

  Thoughts on Week Ahead: Week 25 March 2024 This week investors are looking for US FED's policy moves from Chief Jerome Powell speech scheduled for Friday and PCE print on Thursday. Technically, S&P 500 continues to display bullish behaviour, and has crossed our 5,200 resistance. However, we are cautious on the market as trading volume against price is not supportive (FFI reading diverging from index trend). Both Straits Times Index and China A50 Index are challenging their respective trendline resistance . We are looking for directional moves on both markets.  We continue to monitor for trading set up for the week ahead.  Headlines for the week: - US PCE, US FED Chair speaks - SG CPI, Ind Prod - Short trading week (markets closed for Good Friday) Disclaimers apply