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Thoughts
on Week Ahead:
Week 8
Jan 2024
Hope you
enjoyed the holidays and ready for the markets. Many investors would be
interested what’s the markets ahead in 2024, so I’m sharing some interesting stats
using Bard.
I asked Bard
2 questions. First, what is the year-end performance of S&P 500 if the first
week of trading is down. Next, I’ve also asked what is the year-end performance
for the Year of the Dragon.
The result is S&P 500 tend to see an average -6.8% return if first week ends
negative. While, on a brighter note, year of Dragon experience an average real gain
of +6.2% at the end of the year.
This proofs
to be another year of staying adaptable to the investing environment and risk
management.
Over the
past week, markets mostly dipped after US FED minutes revealed reluctance to
adjust rates lower as market has anticipated. Also, profit-taking ahead of the
earnings season could have contributed to the selling.
Currently, support levels observed for S&P 500 is 4,650, STI at 3,150,
while minor support level for HSI is at 16,500, and key support level at
16,500.
US Financial Sector is showing positive momentum. Thus, its components stocks would be our likely candidate for tactical trading.
We have nil set up for the week ahead and will alert when there is any. Wishing
all a great trading and investing year ahead.
Headlines
for Week Ahead:
-
Corporate Earnings (US Financials)
- US CPI report
- China CPI report, Trade report
Disclaimers apply