HSI

The Week Ahead (13) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , ,
26th December, 2021, 4:04 PM

The Week Ahead (13) – [STI, HSI, NASDAQ & S&P]

Markets started out shaky but gained firm footing towards the end of the week.  Despite more Omicron infection, markets staged a nice Santa rally with US markets nearing all time high once again. US markets looks like it might have a chance to make a new high just before the year ends! Keeping our fingers crossed!

Key Events to Watch For 

Tuesday – US CB consumer confidence, this measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.

Wednesday – US Pending Home sales.

Thursday – Initial Job claims , this measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

Technical Levels to Watch For This Week

STI

STI as expected saw a push down on Monday but started recoverin towards the end of the day. Its trying its best to rebound but is now facing resistance at the 20ema. The general sentiment over in Asia is a little lacklustre with volume decreasing as traders take off for Christmas and year end break.  The resistance of around 3120 has to be broken before any bigger move to come. Aviation stocks are holding well despite VTL tickets being suspended for the time being. Sembcorp Industries is looking interesting.

HSI

HSI also started the week down breaking that 23k support level. It soon found support as the Santa rally started to gain momentum. It’s still under the uptrend line and would need to break above the 20ma (23618) and that downtrend line of around 24200 before any meaningful upside is to come. HK does look like its bottoming out. So keeping a lookout for it.

For more analysis on the US market , you can click HERE!

Have a good week ahead!

Yours

Humbly

Kelwin&Roy

The Week Ahead (11) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy STI , ,
12th December, 2021, 10:02 PM

The Week Ahead (11) – [STI, HSI, NASDAQ & S&P]

It was a week of rebound as we saw markets having a rebound after the omicron scare. If you follow our post last week you would have read that we were expecting a rebound given that the greed & fear was at the extreme fear side. ?

The S&P 500 and Nasdaq Composite added 3.8% and 3.6%, respectively, last week — the best since February for both indexes.

Are we setting ourselves up for a year end rally? Read on to find out more! But before that, lets see what are the key events to watch out for this week.

Key Events to Watch For 

  1. The Fed will hold its final meeting of the year on Tuesday and Wednesday and Chair Jerome Powell and his colleagues are expected to discuss accelerating the wind-down of the central bank’s $120 billion a month pandemic-era asset purchase program. This might cause some volatility in the markets as they look to see what will Powell do with regards to inflation which can no longer be ignored.
  2. The U.S. is due to release data on producer price inflation on Tuesday, which will be crucial to see how inflation is like and market might react to it too.

Technical Levels to Watch For This Week 

STI

STI also saw a rebound too as banks, commodities saw some bargain hunting. STI punched through the 5ema, gaining grounds above that uptrend support. It came very close to our first rebound target of the 20ema at 3160 level. For this week, we might see some profit taking and a test of that 20ema. A break might take us to 3208. 20ema is usually not an easy resistance to break so it’ll require some good momentum to push it through it! We’re still bullish for a year end rally! But if STI can’t pass the 20ema it might start to gather around 3130 area to store some energy before a move.

HSI

HSI was off to a shaky start but the support held well and we saw an eventual rebound that came for the week. HSI is halfway through the rebound and its sitting just at the uptrend which we drew. We might see a further push to 24667 if events this week don’t give markets any scare as Fed start their last meeting for the year!

For more analysis on the US market , you can click HERE!

Have a good week ahead!

Yours

Humbly

Kelwin&Roy

The Week Ahead (10) – [Omicron Dominating Headlines! ]

Kelwin & Roy STI , , , ,
5th December, 2021, 10:25 PM

The Omicron variant still dominating headlines as the world comes to grips with this new variant and scramble to try to contain it. There is still much  to understand regarding this variant and its still early to that we’re out of the woods.

Some updates on Omicron that we know so far :

  1. Early Clinical observations globally suggest Omicron Covid-19 variant may have higher reinfection risk.
  2. Omicron possibly more infectious because it shares genetic code with common cold coronavirus! We’re not doctors but with it being more infectious it might also be less deadly! hopefully this is true and this might not be so worrying!

And with about a week into the news of Omicron markets have slammed down as mentioned in our previous post. In addition to that, Fed has also mentioned about quickening their tapering program! These mix caused the markets to tanked BUT there are some interesting opportunities lying around the corner.

In fact, the greed and fear index is actually almost at the extreme fear side which might spell some opportunities for the sharp eye! This is by no means an indicator to buy but if you observe from past history whenever the Fear & Greed hits the extreme, market tends to rebound. A SANTA rally could still be possible!

Image source: Money.cnn.com

Quoting from Warren Buffet, “Be fearful when others are greedy. Be greedy when others are fearful.” Look for great companies like APPLE, META, AMAZON, TESLA, VISA and even ALIBABA for opportunities to scale in!

Recap for STI & HSI 

As expected both markets has slammed down hard over the week BUT has come to our level of support. Electronic stocks in Singapore gave us a surprise and held up well while the general market shifted into negative territory.

Alibaba took center stage as it continue to move down. Didi has also announced its delisting on the US stock exchange which sparked a sell off on China stocks listed on the US exchange on fear of more delisting.

Technical Levels to Watch For This Week 

STI

Our 3033 support held well and we can see STI is trying to rebound and is currently resisted by the 5ema. A break above that might it move to around 3160 level. Downside support at 2994. Banks are leading this rebound.

HSI

HSI has also come down to our support and it does look like it might have some room for rebound. If it can start trading back into that uptrend line then we might see HSI going for a rebound in the near term, if not our next support level is around 22530.

For more analysis on the US market , you can click HERE!

Have a good week ahead!

Yours

Humbly

Kelwin&Roy

The Week Ahead (8) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , , ,
21st November, 2021, 11:55 PM

The Week Ahead (8) – [STI, HSI, NASDAQ & S&P]

Once again, Electronic stocks, chip makers took center stage as these saw a very nice move up for the whole of last week. And we’re glad to have caught them like MU, AEM, UMS.

Penny stocks are also starting to fire up , so if you’re into penny trading then get ready. BUT do remember to have your proper stops in place as we all know how volatile pennies can be.

Another major event was Alibaba’s results which resulted in a huge sell down while JD enjoyed  nice rally after its results. What an exciting week it was. So now lets look ahead!

Recap for STI & HSI 

STI was flattish this week with DBS pushing to and of course our Electronic stocks, AEM, UMS, ISDN and Nanofilm pushing higher. The rest of the market was actually sluggish and very range bound.

Over in Hong Kong, JD saw a nice rally after its results and breaking above its resistance. Whereas Alibaba took a beating BUT this might present some good opportunity for those who don’t have Alibaba in their portfolio.

Markets were rough in HK after its initial move up which then saw a bigger drop towards the end of the week.

Key Events to Watch For 

The White House said last week that President Joe Biden will likely decide before Thanksgiving whether to keep incumbent Fed Chair Jerome Powell in place for another term or promote current Fed Governor Lael Brainard to the position.

Analysts expect some stock market volatility around the announcement, particularly if Brainard is chosen.

Brainard is seen as more dovish than powell and could consider the timing for further rate hikes.

Monday – Existing Home Sales

Wednesday – Core Durable Goods, Initial Jobless Claims, New Home Sales and crude oil inventories

FOMC meeting minutes

Thursday & Friday are off for the US market due to thanksgiving

Technical Levels to Watch For This Week 

STI

Chart Source: Poemsview 21st nov2021

STI getting in a sideways consolidation but be alert for any move up or down as this might set the direction for the next coming weeks. A downside could be seen till the 40ema whereas the upside might break above that previous high. We still prefer to see individual stock at this juncture as the STI looks undecided for the moment. It is flirting with the 20ema and only with a stronger close and rebound above it then will we be more convicted of an upmove.

HSI

HSI had  a rebound but like STI it could not sustain the rally. A new downtrend resistance can be seen and a new short term uptrend line for the HSI has also been established. HSI could start trading within this range before a more decisive move. If that uptrend breaks we might see more downside to 23,800.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

 

 

The Week Ahead (7) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , , ,
14th November, 2021, 4:36 PM

We’re into the middle of Nov and we saw some pullback in the overall market BUT a certain sector stood out in our market! Electronic stocks which we mentioned in our previous  THE WEEK AHEAD post to look out for saw a nice push ahead after AEM’s results sending it to its all time high. Frencken also a boost after its results.

Recap for STI & HSI 

Banks pushed higher last week only with OCBC lagging behind. Once again it wasn’t a broad base rally  and being selective on certain sectors is key. Electronic stock was a sector that we were watching and since then it has started moving. We might see the laggards for this sector to start moving as some spillover effect takes place. SPH was gapping up due to bidding wars which saw its price moved up about 10% for the week. Energy sector is currently taking a breather.

Over in Hong Kong, things are heating up as support was tested and held and we saw a general rebound in HK stocks bringing some much needed rally in the sluggish market. Tech stock saw a good rebound and Xiaomi is a stock that is on our watchlist.

Key Events to Watch For 

  1. Core Retail Sales on Tuesday
  2. Building Permits  in the US to see how the housing market is doing , Crude oil inventories to see how demand for oil and economy activity is. Take note for oil related stocks.  All these are happening on Wednesday.
  3. We have jobless claims on Thursday to see how employment is.

Technical Levels to Watch For This Week 

STI

STI broke below thee uptrend line that has been supporting it and has pushed down to the 20ema also coinciding with our horizontal  support level. We haven’t been that bullish in the STI for the past weeks as most of the underlying components were not really moving. Some bounce came as the 20ema held it up but we’re not very bullish yet and might want to wait for clearer signs. Continue being selective as we can see that Electronic sector is reaping rewards. The bearish candle on friday might signal more downside and with a better base formed then will we have more conviction on the STI.

HSI

And there you have it, HSI being the beast of the east saw a very nice rebound off our support line. It came off with a hammer last Wednesday and crossing above our downtrend line and reaching our next level of resistance of around 25520 which is the uptrend resistance line. HSI does look like its gathering strength to break that resistance and charge towards the next resistance of 26240 area. Looking out for beaten down HK stocks!

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

 

The Week Ahead (6) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , ,
7th November, 2021, 4:42 PM

What a week it has been for the markets especially for the US side. Indices pushing to new highs but once again, not much love shown over in Asia.

Fed’s decision was key to market movement last week as previously highlighted as all eyes were on Chairman powell to deliver what the market wanted. For the most part, the Fed announcement came in as expected with plans to taper by reducing its bond purchases by $15 billion per month for November and December. This would end the Fed’s stimulus efforts by  about June of 2022. However, the Fed did say it would be flexible in that it could speed up or slow down the purchases as needed. ALSO, he decided to focus on tapering rather than mentioning much about interest rate in his  post-announcement press conference. Smart move there. Markets cheered the decisions and made new highs after.

Recap for STI & HSI 

For the STI, we did see some renewed strength in the banks as the three local banks posted good results thus bringing the index higher. But we didn’t see a broad base rally as only very selective stocks were pushing up the index like Jardine. We also saw a rebound in our electronic stocks as previously mentioned but results releasing could decide the fate of their movement.

Over at Hong Kong, some what same story as HSI continued to be resisted by the resistance we drew. But it came very close to our next support. Big tech in HK saw a mixed bag with no clear directions while the auto makers had some rebound.  We’re looking at HSI to form some support before taking any decisive actions.

Key Events to Watch For 

Singapore bank earnings are out, so we’ll continue to monitor our E stocks for their results. Do also take note of the earnings for the stocks that you’re looking at especially if you’re intending to take position in it.

A little of the same stuff like PPI on tuesday and Core CPI and Initial jobless claim on Wednesday are some of the key events.

Major earnings like Alibaba, Paypal on Monday and Tencent (ADR) on Wednesday. Do check out the earnings calendar over HERE to see when your company is reporting.

Technical Levels to Watch For This Week 

STI

STI has been bouncing off that uptrend support line that we’ve been drawing. As banks reported their results, that gradually pushed the index up above our 3234 resistance. Now staying above this might see if push further to 3280 level which is back in Jan 2020! The underlying stocks of STI has been rather weak without much following through so do be very selective in your stock selection and take profit fast before profit taking sets in.

SATS, E stocks are still some of the stocks that we are looking at.

HSI

Performing worse than our STI , HSI has been pulling back ever since hitting our resistance. It has now reached near our support of around 24667 and if we could see this hold then a good chance for some rebound might be on the cards.  There is  downtrend resistance line and the horizontal resistance of 25077 to overcome and if HSI manages to break this level then we might see a good rebound coming in. Tech stocks are on our list together with auto makers like Geely and BYD Co. Li Ning is also another stock on our watchlist.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

The Week Ahead (5) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy STI , , ,
31st October, 2021, 4:27 PM

Good Day to all and yes we’re in the month of November already! And did you know that November is a seasonally better month for the markets? Some reason could be markets corrected in the previous months, market also anticipating pick up in business for the year end which might translate into short term  movement for share prices.

Singapore has also crossed the 5000 mark for covid cases, which we hope is a one time anomaly but it might be the norm in time to come too.

We’re hopeful for the month of Nov so lets dive into what we’re looking at.

Recap for STI & HSI 

STI remains sluggish ever since touching our 3200 resistance with a slight touch near our next resistance of 3200. Although US made new high our market failed to push higher. Only banks were moving with other blue chips generally on the decline.  As previously mentioned penny stocks continued to move up as focus shifted from blue chips to those small cap stocks. Energy stocks also saw a decline which might spell out some opportunities!

Over at Hong Kong, some what same story as HSI continued to be resisted by the resistance we drew. Mostly automakers were moving up while the tech stocks were declining. Also during the week, some China, US news caused some neagtive sentiments in the market.

Key Events to Watch For 

Earnings continue to take center stage as Wall Street look to company’s earing for growth and the strength of economy. Forward statements are important as this tells us if the company is bullish going into the rest of the year.

Singapore banks will be reporting soon so that might give a boost to the market depending if they meet market expectation and whether their forward statements are positive.

ISM Manufacturing PMI for Oct on Monday (1st Nov) is one data to look at,  ADP Nonfarm Employment Change, ISM Non- Manufacturing on Wed (3rd Nov)

FOMC statement and FED rate decision on 3rd Nov will be what market will be looking to for guidance. Then jobless claim on thursday and unemployment numbers on Friday to see the strength of US employment.

Also keep an eye on US and China tensions too.

Technical Levels to Watch For This Week 

STI

STI holding on to its short term uptrend line with resistance of at around 3200. If STI breaks that uptrend line we might see a pullback to the 20ema of around 3168. This is a healthy pullback to us and we’ll take the chance to trade some beaten counters. We cautioned not to be aggressive in our previous post as STI’s momentum started to slow down and nearing key resistance of 3200 where profit taking did come in. For now, we’re adopting a bit of wait and see approach with E stocks, Ifast, SATS all in our watchlist. =)

HSI

We’re also seeing weakness in the HSI with it hitting our resistance. It is currently at its first support which we think that it might break. We might see HSI moving lower for the week to around the 25k level. The 5ema is currently sloping down which is not a good sign if you’re long. So near term some weakness might come in.  Tech stocks hasn’t stabilize yet as in our last post so we’ll continue to watch it for the week.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

The Week Ahead (4) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , ,
24th October, 2021, 10:00 PM


Good Morning and its the last week of October! How time flies some might say! Its about slight more than 2 more months before we end the year so make full use of what this year has to bring!

We know many people are sian about the recent covid restrictions, lets keep our heads up and spread positive vibes as much as possible! Encourage one another, call in a friend to see how he or she is doing! Keep the spirits up!

Recap for STI & HSI 

For our local market, STI touched our 3200 resistance up  rebounding about 3% since breaking our trendline just two weeks ago. Positive sentiments from the US continued to pour over which helped push our market up. Penny stocks saw another round of movement, so for those who likes to play penny stocks, the past week was probably a good one for you. Sembcorp Industries also saw some action this week.

Over at Hong Kong side it has also reached our resistance of around 26222 area with continual rebound from the tech and EV sectors. Evergrande paid out its bond coupon last week, buying it time to wrestle with a debt crisis looming over the world’s second biggest economy. It also resumed work on more than 10 of its property projects. Some good news but do be cautious especially for traders as HK market has rebound off the lows and some pullback might be seen soon.

Key Events to Watch For 

  1. Big Tech earnings! Four out of the five FAANG stocks are set to report earnings during the week – Facebook. This could set the tone for tech stocks.
  2. U.S. GDP .Data on Thursday is expected to show the extent of the headwinds that hit the U.S. economy in the third quarter. Economists are forecasting that GDP growth slowed to 2.8% from 6.7% in the previous three months. Other data to look out for would be initial jobs claims on thursday and friday’s core PCE price index.
  3. Continual monitoring of the 10 year yield. Its at the highest for the month of Oct and given Nasdaq is coming close to its ATH and S&P breaking its ATH, markets might slow down a little.

Technical Levels to Watch For This Week

STI

Chart Source: AdvisorXs 24th Oct 2021

STI continues to power through the week hitting to the round number resistance of 3200 and close slightly below it for the week. It actually rebound off the 5ema which shows some strength. The momentum does looks like its slowing down and with an month of an extension of covid regulations, markets might have some mini reactions to it. It STI manages to hold above the 5ema we might see near term upside resistance to 3230 area where more profit taking might come in. For traders, we might not want to be over aggressive as markets in US are also near or at all time high. So some pullback is not too much to expect.

HSI

HSI has also seen strength rebounding to our upside resistance of 26222. It is currently hovering near this resistance and a break above this might it move to 26834 area. Profit taking might soon come in too as market has rebound for about 2 weeks plus. Keep a look out! EV stocks like geely and BYD has seen a nice move up together with the usual tech suspects. Most tech stocks also are seeing some profit taking as they have rebound for the last few weeks too. Looking for it to stabilize before planning a move again.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

 

The Week Ahead (3) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , , ,
17th October, 2021, 10:20 PM

Image source: goodmorningfun.com

The week is starting soon and we hope you’re not feeling the blues as market is starting to come back to live and things are starting to heat up!

Recap for STI & HSI 

For our local market, as mentioned in our previous post, banks earnings over in the US gave a push to our local banks, especially for OCBC and UOB.

Electronic stocks also saw some rebound as the 10 year yield curve started to ease up. Nasdaq also had a rebound bringing further positivity to the markets. Energy stocks saw some pullback which is healthy while oil stocks pushed further up.

As for the Hong Kong market, it only traded for three days as it was closed for a day due to typhoon warning and one day due to Chung Yeung Festival. Overall, EVs , tech stock saw a rebound in the HK market while HSI moved up to our initial target.

Key Events to Watch For 

1.Earnings! Earnings have kicked off in the US and dozens of companies will be reporting in the coming week, including Tesla (NASDAQ:TSLA), Intel (NASDAQ:INTC) and Johnson & Johnson (NYSE:JNJ), as the first major wave of third quarter earnings results gets underway.

On Thursday Netflix will kicks off third quarter reporting for the ‘FAANG’ group of U.S. tech giants Facebook , Apple  Amazon.

Take note of earnings in Singapore too.!

2 Chinese GDP! On Monday, the third quarter gross domestic product for China will be released alongside with the factory production and retail sales. These are data to see the health of the economy and economist are expecting growth of around 5.2%. If it comes below then market might have some reaction to it depending on how bad the numbers are, but if it jumps on the upside it could spark more upside as this might signal recovery for the world’s second largest market.

3. U.S data he U.S. is to release data on industrial production on Monday followed by reports on buiding permits and housing starts on Tuesday.

4. Bitcon futures ETF! For those interested to get your hands on bitcoin this ETF might provide an avenue for it. The first U.S listed futures ETF are set to launch in the coming week barring any last minute objection from the SEC.

The ProShares Bitcoin Exchange Traded Fund is scheduled to start trading on the New York Stock Exchange on Tuesday. A day later, the Invesco Bitcoin Strategy ETF, would also be allowed to launch unless the SEC blocks it.The ETFs will be based on bitcoin futures that already trade on the Chicago Mercantile Exchange rather than the cryptocurrency itself amid regulatory concerns over a potential lack of liquidity and the risk of price manipulation on spot exchanges.

5. Take note of the 10 year yield too. It did move up on Friday. Don’t overlook this point.

Technical Levels to Watch For This Week

Straits Times Index 17th Oct 2021

Image source: AdvisorXs 17th Oct 2021

STI saw a nice rebound of about 60 points when it broke our resistance line last week . It reached our upside of 3160 on the back on our banks moving, Jardine and Venture having share buy backs . With renewed interest of opening up, this also has caused aviation stocks to move up but we prefer a pullback now before entering. Positive sentiments continue to flow and we might see our next resistance target of around 3200.

HSI

HSI also saw some bounce on a shorter week hitting our first resistance. The closing bar on Friday was a nice pin bar candle. As we see US side closing strong and the S&P cutting above its downtrend line. This could bring more positive movement as the bulls look to overcome the bears in the coming week. Watching HSI to break that resistance of around 25404. If that breaks, our next upside resistance would be 26209.

Trade safe and remember to have a sound trade plan!

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy

The Week Ahead (2) – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Straits times index , , , ,
10th October, 2021, 10:26 PM

Image source: Shutterstock.com

We hope you are well rested and ready for the week ahead.  As we ahead into another week lets do a recap and see what next week might bring.

Recap for STI & HSI 

For our local market, STI fought hard despite a few negative session over in the US. Energy,Oil, hospitality and covid related counters took center stage last week. Counters like Golden Energy, First Resource, Wilmar, Sats, Q&M Dental, Raffles Medical saw upside last week.

As for the HSI,  it was trying to find its footing as tech stocks saw some recovery as market is starting to absorb the bad news of  Evergrande and tech regulations.

Key Events to Watch For 

Over the weekend, our government gave more clarity in our battle with Covid , highlighting simplified healthcare protocols and the need for our mental attitude towards Covid. We’re slowly moving forward and becoming a Nation living with Covid. Recovery plays liek SATS, hospitality reits might continue to be in play. Energy and oil counters are also currently in play too.

Some events to watch out for overseas

1. Some of the World’s biggest banks will also kick off their Quarter 3 earnings season with Banks such as JPMorgan Chase, Bank of America, Morgan Stanley and Goldman Sachs reporting their earnings this week.
2. The key U.S. economic report to watch this week is Wednesday’s data on consumer price inflation for September.
3. The Fed is to publish its September meeting minutes on Wednesday amid expectations that it will begin tapering asset purchases before the end of this year, an important first step towards eventual rate hikes.
4. Annual meetings of the World Bank and the IMF get underway Monday, where officials will discuss the global economy, the ongoing COVID-19 pandemic and global taxation issues.
Technical Levels to Watch For
image source: AdvisorXS 10th Oct 2021

For STI, the support of 3024 held and we saw it break our short term downtrend line but resisted by the horizontal resistance previously mentioned at 3112. This week would be interesting as we watch and see if this resistance would break. If this breaks we might we a nice rebound for the week, our upside resistance is around 3160.

For HSI ,it has also broken the short term downtrend as the buying overcame the selling despite negative news which is a positive sign to us once again. It has reached some resistance around 25k and a clear break with a bullish bar might see more upside to around 26k with short term resistance in its path. Inflation fears, bad results earnings from US side might have negative sentiments so do watch out for it.

To know more about the outlook for S&P and Nasdaq, just CLICK HERE!

Have a good week ahead! Drop us a message if you want to discuss further!

Yours

Humbly

Kelwin&Roy