Thoughts on the Week Ahead: Week of May 27, 2024 Taking a lift down from the HDB flat, enjoy a brisk walk to Sixth Avenue for Sunday breakfast. This scenario, unimaginable many candlesticks ago, is soon becoming a reality in Singapore. This week, the spotlight is on the US PCE inflation report, which has the potential to move the market. The market expects a 0.3% uptick, a notable deceleration from March. The US earnings season is nearly over, with attention remaining on results from Costco and Dell. In China, May's official PMI figures are anticipated to reflect a modest expansion in manufacturing, shedding light on the potential allocation of over CNY 1 trillion in stimulus from long-dated bonds. Market technicals for the S&P 500 continue to suggest an upward trend, but we are very cautious about the market as the earnings season ends and investors re-evaluate current valuations. Our target remains at 5,400, with immediate support at 5,260. Our trading strategy for the week...