Nasdaq100

The Week Ahead Aug 2023 – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Stock Market , , , , , ,
13th August, 2023, 11:00 PM

Some might feel a bit sad as the markets have been pulling back the last week or so with the Nasdaq pulling back about 6% and the S&P about 3.5%. As we have been mentioning for a few weeks to be prepared for a pullback especially after such a nice rally for the past few months. Many reasons can be attributed to the pullback like inflation slightly ticking up, US banks downgrade and so many more. What matter most is to make use of this pullback to continue to add to solid companies or for those who missed out on the rally to finally get in.

Source: Cnn greed & fear index

As cautioned back in July when the indicator was at the extreme greed area and when everyone was rushing into the market for the fear of missing the boat we patiently waited. Finally we are seeing some pullback and some bad news starting to come out of the market.

Nobody will know how much this pullback will last. But a good 10% pullback could be a chance to make an entry. Also , take a look at your individual stock as they could pullback more than the S&P like Microsoft is already down 12.5%. =)

S&P 500

Source: Tradingview 13th Aug 2023

S&P500 as cautioned many times saw a nice pullback for the week. It has covered the small gap of 4463. Bad news is starting to flow out of US and for the untrained investor then this might cause some panic. The first support for the S&P500 could be at the 50ema of around 4429 level then then 4383 and even 4300 These are some levels to scale in if you’re looking for an entry.

Nasdaq100

Source: Tradingview 13th Aug 2023

Nasdaq100 has pulled back more than the S&P500 because it has also risen more during the rally. Tech stocks lead the way when the recovery starts and when it pullback then its time to scale in at the support.  For Nasdaq, the first level of support is at 15000 level which we saw some rebound. This rebound could be short lived to about 15300 and then a downside support target of 14720 level might be touched. Don’t miss out on this opportunity to scale in.

HSI

Source: DZH International Advisor 13th Aug 2023

The Hang Seng Index did not close that well for the week. A red bar with volume could see more downside for the HSI this week The next support is at 18560. This has to hold for the hang seng to resume its uptrend and not get back down to a downtrend mode. Will be watching closely for this as this could be another buying opportunity. Still a lot of negative news and deflationary concerns surrounding the China markets which is causing a stall in this rally. China needs a more conclusive policy to help boost the market sentiments and get them out of this state.

STI

Straits Times Index 13th Aug 2023

Source: DZH International Advisor 13th Aug 2023

The Straits Times Index bounced off the 20ema on Friday but we might continue to see more downside for the STI to 3240 levels. Over there then we might see a good rebound coming in. As Singapore market looks a little dull for now, set your eyes to the other markets for better returns and that is key in order to survival in such a market.

We hope you have gained some insights for the week. As usual, if you need any help in your portfolio or unsure of which stock to enter. Feel free to reach out!

Yours

Humbly

Kelwin & Roy

 

The Week Ahead March 2023 – [STI, HSI, NASDAQ & S&P]

Kelwin & Roy Stock Market , , , , , ,
26th March, 2023, 9:47 PM

The Fed has risen interest rates by 0.25% and further mention that one more rate hike for the year is on the cards and probably no rate cute. With that market volatility set in but as the week came to a close, markets started settling down. Now with fed decision out of the way. What will market be looking forward to and how will the market perform for the week?

Traders will be hoping for some form of stability to return to markets roiled by bank failures in the coming week as they weigh the ongoing fallout from the forced UBS-Credit Suisse tie-up. Upcoming Core PCE Date which is the Fed preferred data could bring some volatility towards the end of the week.

China’s PMI data on Friday will be closely watched as market watchers try to gauge the strength of the recovery in the world’s second largest economy in the wake of the lifting of pandemic restrictions.

Now let’s take a look on the technical front for the various markets.

Nasdaq 100

Nasdaq 100 considered strong as its above the 200ema and what’s interesting is that the 50ema is looking to cross the 200ema. A bullish sign if this happens! Nasdaq remains stronger as traders switch from banking stocks to tech stock and pile in on tech stocks as the 10 year fell. Also, traders look to move in on the recent hot theme on artificial intelligence.  For the week ahead, the key resistance that Nasdaq has to take out would be around 12913. Market has tested that area recently but haven’t been able to break it. As April draws near, a seasonally better month we could see market gathering pace if this banking crisis don’t fallout further. Looking for a bullish break through for the week.

A break below 12373 would be a short term bearish signal for the Nasdaq100.

S&P500

S&P500 slightly weaker as it consist of banking stocks in the index which is dragging the index down. Currently at some congestion which is the horizontal line, downtrend line and the moving average. A break above the 4000 psychological could see S&P500 move higher to the 4100 level. We remain bullish for this week as market tries to stabilize and absorb the bad news around. Support at 3919 and  a break below that might signal more downside to 3811.

HSI

Something interest that we are seeing on the HSI is that its up 3 days in  a row, a rare sight for the last few months. Gaining some momentum on the upside BUT currently facing a few resistance as drawn from the above. A good break above 20,120 could see the HSI push up to 20700 if not we could see HSI consolidate for awhile. Optimistic about a break above this resistance! Support at 19733.

STI

STI which is almost 40% made up of our three local banks largely takes direction from the movement from the banks. Despite the banking crisis we do see our banks hold up pretty well. As our banks are on the safer side, investors are still confident in our banks. For this week, with an increase in interest rates, we might still see a move up after it cross 3225. A move towards 3262 is possible for this week as market tries to find its footing.

If you got any questions as always feel free to drop us a message.

Yours

Humbly

Kelwin & Roy