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Weekly Markets Outlook

 




Thoughts on Week Ahead:
Week 4 March 2024

Much like Taylor Swift's lyrics, "I shake it off, I shake it off," the US markets shrugged off concerns regarding high interest rates and recession. And instead, persist in an upward trajectory, at new all-time highs.

From a technical standpoint, the S&P 500 maintains its upward trend, facing potential resistance at 5,200 with support at 5,000 level. In contrast, the Singapore market treads cautiously, residing within a gradual downward channel. Meanwhile, the China A50 Index holds firm above the 11,200 support level, shows promise in challenging its downtrend line resistance in the near future.

We favour long trades in the US market, exercising caution and selectivity in the Singapore and China Hong Kong markets for the week ahead.

Headlines for the week:
- Corp Earnings (Target, Costco, Adobe)
- US FED officials speak, NFP report, ISM Servies PMI, JOT Job Openings 
- China Annual Two Sessions Meeting
- SG Feb PMI, Retail Sales, 


Disclaimers apply

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