Market Technician

  US Banking Sector (KBE): Despite the overall equities market weakening in Friday's session, the banking sector rallied. This suggests that current economic conditions could continue to benefit the banks. 1. Elevated interest rate environment 2. Slow but growing economy 3. Continuing earnings momentum 4. Low non-performing loans Singapore Banks , could potentially emulate the performance of the US banking sector. https://www.businesstimes.com.sg/companies-markets/banking-finance/jpmorgan-raises-2024-interest-income-forecast-us91-billion Disclaimers apply

  Thoughts on the Week Ahead: Week of July 1, 2024 The US Presidential debate caused some volatility in Friday evening markets, as participants see the debate as favoring Donald Trump's return to the White House. Both equities and US Treasury bond prices fell after the debate. On the bright side, the PCE report was positive, with inflation meeting market expectations. While we remain optimistic about the S&P 500, its inability to break above 5,500 and its decline on Friday is concerning. We are closely monitoring market trading actions and the crucial 5,375 support level. In China, markets continue to face volatility. Our support for the Hang Seng Index (HSI) remains at 17,000-17,200. Meanwhile, the Singapore Straits Times Index (STI) has returned to its resistance level. We could see a decisive move up or down this coming week. We are cautious on the markets but will continue to identify trading opportunities in the coming week Headlines for the week: - US FOMC Minutes, Job R