The Week Ahead Oct 2022 – [STI, HSI, NASDAQ & S&P]

9th October, 2022, 4:21 PM

Good news is bad news for markets now and till market is about to normalize good news and bad news, we’ll continue to see violent moves up and down. Unemployment rate came in lower at 3.5% while payroll rises by 263k all better than expected and instead of cheering on the data, markets sold off. As unemployment comes down, this would translate into spending which means inflation might still be stubbornly high. For this week, all eyes will be on CPI data coming out on 13 oct. If CPI data comes in above expectation then expect more SELLING!!


HSI bounced off our support of around 16880 but the bounce was quickly met with resistance which is the downtrend line and the 20ema. For this week , we’re expecting weakness in HSI once again as global sentiments continue to be weak. Immediate support is at 17732 and downside target is around 17000. Once again, awaiting to see what happens at the CCP 20th Congress Meeting to get a clue what policies might be introduced.


STI also saw some rebound after some consolidation and currently at the 5ema support. But with Friday’s sell down, we might see more downside for the STI to around the 3090 level. All eyes on CPI data before any moves and as usual we always caution before going into any big data as any disappointment would see markets selling off and you don’t want to be caught in that.

Do head over to our Facebook page for more updates on S&P500 and where it might head after the massive sell down. Updates for Nasdaq is also over there.



Kelwin & Roy

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