Dear readers,
U.S market has just notched their ninth weekly gain out of last 10 weeks. However, the same cannot be said for our Singapore market where it is one of the weakest equity market in Asia, in terms of year to date equity performance. This is not surprising as I have mentioned that STI is the weakest chart among Hang Seng and S&P500 two weeks ago. So, what’s next for our markets in the next two weeks?
Read on to find out more…
S&P500 Index
Just to recap what I have mentioned two weeks ago, S&P500 is likely to trade within the range of 2,021 – 2,135.
–> S&P500 index performed in line with expectations. For the past two weeks, S&P500 traded within 2,042 – 2,104 and closed at 2,092 on 4 Dec.
Looking ahead, S&P500’s exponential moving averages (“EMAs”) have compressed and started to pull apart ......