The Week Ahead Feb 2022 – [STI, HSI, NASDAQ & S&P]
It was a choppy week over in US as the S&P 500 pulled itself out of the weekly 200SMA but saw a pullback during the week. Major companies reported their Q4 earning with Meta missing its earnings and giving a disappointing Q1 guidance. The 10 year yield curve also spiked up to 1.9% which caused some markets jitters. As Asia was on a longer break, most of the markets remained up despite the negative sentiments out there.
Key Events to Watch For
Wednesday – Crude Oil Inventories. The level of inventories influences the price of petroleum products, which can have an impact on inflation. If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
Thursday – Initial Jobless Claim
Friday – US Fed Monetary Policy Report. This is the fed reserve board submits written reports to Congress containing discussion he conduct of monetary policy and economic developments and prospects for the future.
Take note of the 10 year yield curve too.
Technical Levels to Watch For This Week
STI
We saw a push up for the STI after a short pullback which is a bullish sign as it broke above the 3300 level. We might see it push higher during the coming weeks to 3350 level before another pullback occurs. Banks, travel stocks, E stocks are seeing rebound too. Stocks like Keppel Corp and Sembcorp Industries are shining too.
HSI
It had one full day of trading last Friday but saw a huge catch up and closed up over 3%. Its considered a lot for an index to move 3% in a day. After a pullback, HSI has risen again and we might look for it to test the upside resistance of 25077 area and even 25404.
For more analysis on the US market and where it might head to, you can click HERE!
Have a good week ahead!
Yours
Humbly
Kelwin&Roy
