Week Ahead: US Indices Momemtum in Question

Week Ahead: 10 March 2025

Key event this week was U.S. indices technically closed below the key 30-week (or 150-day) moving average. For the upward trend to continue, the indices need to reclaim levels above the moving averages. Remaining below the 30-week (or 150-day) moving average could indicate that the upward trend has reversed downward.

However, in the short term, we expect a rebound as the indices trade near their respective support levels.

Medium Term:

S&P 500 (SPX): The S&P 500 broke below its key upward trendline, which had been established since October 2023. In the longer term, we expect the index to trade sideways or move in a downward direction. In the short term, we anticipate the S&P 500 will find support at the 5,700 level and could rebound to test the 5,860 and then the 5,966 resistance zones.

Straits Times Index (STI): The technical trend remains bullish. We maintain a constructive outlook while staying vigilant for any signs of selling pressure.

Hang Seng Index (HSI): The China A50 Index (grey line) is still trending upward. The Hang Seng Index (candlestick) has resumed its upward trend after a recent consolidation. We expect the HSI's upward momentum to continue, testing the 24,950 level.

Long Term:

S&P 500 (SPX) Trend is neutral (With potential of downward trend developing)

Hang Seng Index (HSI) Trend remains upward

Straits Times Index (STI) Trend Neutral (Upward trend still intact)

Headlines Next Week:

- US Corp Earnings: Oracle, Adobe

- US CPI, PPI, Job Openings,

- China CPI, PPI, Conclusion of Two Sessions,

- SG -

Disclaimers apply

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