Market Technician

 Registration: Click HERE

  Moody’s (MCO): Momentum breakout from base. Potential retesting resistance at 400.00 zone. Stop price below 377.00. Note that Relative strength against benchmark (SPY) is negative. Disclaimers apply

  Thoughts on Week Ahead: Week 26 Feb 2024 The stock market witnessed several significant developments this week. Firstly, Amazon joined the Dow Jones Industrial Average (DJIA), potentially attracting increased flows alongside established giants like Apple and Disney.  Secondly, prominent figures like Jeff Bezos and Nvidia joined forces to fund a startup developing humanoid robots. This investment highlights the potential for artificial intelligence to expand beyond its current applications and create new revenue streams for technology related companies. Meanwhile, the S&P 500 maintained its upward trajectory, reaching new all-time highs. The 4,900-5,000 zone is identified as a crucial support level for the index. Finally, the Chinese A50 index experienced a positive momentum shift this week, prompting increased focus on tactical trading opportunities within the Chinese market. This development suggests potential renewed investor interest in the Chinese stock market. He...

  Thoughts on Week Ahead: Week 19 Feb 2024 Chinese markets reopen after a promising holiday season, fueling investor optimism about economic recovery. Meanwhile, US markets take a pause on Monday for President's Day.  Key events to watch include Nvidia's earnings report, offering insights into AI demand, and the  US FOMC minutes revealing the central bank's rate policy outlook.  Technically, the S&P 500 seeks direction around 5,000, while the STI tests resistance near 3,200.  As of now, nil trade set up has been uncovered, and will keep everyone posted.  Headlines for the week: - Corp Earnings (Etsy, NVIDIA, Moderna, and Berkshire Hathaway, UOB, SIA, Wilmar, Genting SP, Home Depot, Walmart,) - US FOMC minutes,  - China key rates fixing, Market Re-opens,  - SG Jan CPI Disclaimers apply

  Starhub (CC3) Positive demand/supply action, continues displaying positive character. Most recent gap as stop. Couple of positive announcements since earnings reported. In the news: StarHub achieves 99% coverage with its outdoor 5G network StarHub CEO says it has shifted from ‘asset-heavy’ to ‘asset-light’ models StarHub records earnings of $72.9 mil for 2HFY2023 Disclaimers apply

  Week Ahead  US markets continue marching towards all-time highs, with the S&P 500 trading above 5,000. If this level holds, the index could reach 5,200 within the next month.   The China A50 index, which tracks the 50 largest Chinese companies, recently tested the 11,200 level and closed above it. We are closely watching the downtrend line for potential allocation opportunities in the Chinese markets. Headlines for the week: - Corp Earnings (KO, ABNB, OXY) - SG 4Q23 GDP, NODX report - US CPI Disclaimers apply  

  Mag7 Narrowing & Week Ahead Following the "Mag7" earnings announcements, the market saw mixed reactions. While Facebook (META), Amazon (AMZN), and NVDA gapped higher, momentum wasn't universal across the group. Notably, Netflix, outside the Mag7, also posted a positive post-earnings jump. Our ongoing focus revolves around deciphering whether this momentum signifies a narrowing concentration of market strength or a broader market expansion. By closely monitoring earnings reports across various sectors, we aim to ascertain whether the market is evolving beyond its traditional reliance on the Technology and Communication sectors. Shopify Inc (SPOT): In trading range, Demand increasing, potential upward to continue. Target at 95, stop at 70. American Eagle Outfitters Inc (AEO): In trading range, Supply exhausting, potential increase in demand. Target at 21.70, then 23.66, stop at 19.80. Key events this week: Alibaba (BABA):  Tune in for Alibaba's earnings on ...