Author: Traderlogy

Weekly Recap & Upcoming Market Movers – 3rd December 2018

Last Week Recap The global stock market rebounded strongly last week as the Federal Reserve Chairman Jerome Powell struck a surprisingly dovish tone in his speech last week. Speaking to the Economic Club of New York, Chairman Powell said that interest rates were currently “just below” neutral. That comment was a stark contrast to what he said in October, that rates were “long way” from neutral. The change in stance could very well be influenced by US President Donald Trump as President Trump said that he is “not even a little bit happy” with the Fed Chairman.  Treasury Secretary...

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Weekly Recap & Upcoming Market Movers – 19th November 2018

Last Week Recap Stocks fell for the week after risk-off sentiments returned due to trade war negotiations and the ongoing Brexit drama. The S&P 500 fell 1.5% while the Dow Jones slumped 2.2% for the week. Tech heavyweights like Amazon, Apple, Facebook and Nvidia continued to perform poorly, dragging down the entire tech sector. Other asset classes like crude oil and cryptocurrency aren’t doing so well either. WTI Crude Oil tanked 6% last week due to growing concerns that the global market is being oversupplied. Bitcoin plunged below the $6000 mark to hit the lowest level in over a...

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Weekly Market Update for Straits Times Index (STI) – 12th November 18

Current Trend for the Straits Time Index (STI) The STI has managed to bounce and retrace from the strong support of 2950 level. We have seen 3 white candles gap ups on healthy volume to nearly test the 50D EMA, however there is still selling pressure due to global uncertainties post mid term elections where the democrats gain back control of the House of Representatives which might open doors to accountability to some of President Trump’s policies. Currently the index seems to be trading within the range between the 20D and 50D EMA and volume has been lackluster to...

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Weekly Recap & Upcoming Market Movers – 5th November 2018

Last Week Recap Last week the global stock market staged a remarkable rebound as news of the US and China coming to a trade agreement helped to lift sentiments. US President Donald Trump has asked his key officials to start drafting potential terms to reach a trade agreement with China. President Trump tweeted that he and China President Xi Jinping had a “long and very good conversation”, they discussed on “many subjects, with a heavy emphasis on trade”. The S&P 500, Dow Jones and the Nasdaq composite all posted solid gains of more than 2% for the week. As mentioned...

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Weekly Market Update for Straits Times Index (STI) – 30th October18

Current Trend for the Straits Time Index (STI) What a wild week it has been for the STI as relentless selling has caused the index to breach the 3000 psychological level. This was on the back of the heavy selling in the US indices which has been rallying up without a meaningful correction for an extended period of time. STI however has lagged the general market on the upswing and suffered on the downside. Is the selling over? Can we start to look to go long? I generally feel that the selling has been a tad overdone and the...

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Weekly Recap & Upcoming Market Movers – 29th October 2018

Last Week Recap Last week the global stock market endured another wave of sell-down. The Dow Jones Industrial Average was down -3% for the week, while S&P 500 slumped -3.9%. Both the Dow and S&P turned gave back all their gains and turned negative for the year. Disappointing earnings from some of the big companies like Amazon and Alphabet set off concerns from investors that company earnings have peaked, leading to the brutal sell-off in October. Investors are also on edge about the upcoming mid-term elections in November. Technically things are looking gloom for the Dow Jones Index in the...

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Weekly Recap & Upcoming Market Movers – 22th October 2018

Last Week Recap Last week the US stock market closed relatively unchanged after weeks of selling, Dow was up +0.4% while the S&p 500 was up +0.02% for the week. Markets are still jittery as investors digest the minutes from Fed’s September meeting but strong earnings from banks managed to put the brakes on the recent declines. Crude oil (WTI) prices slumped -2.9% last week as tensions between the US and Saudi Arabia escalate. US President Donald Trump speculated that “rogue killers”, and not Saudi officials may be responsible for the sudden disappearance of the US-based journalist, Jamal Khashoggi. President...

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Weekly Market Update for Straits Times Index (STI) – 15th October18

Current Trend for the Straits Time Index (STI) Finally the STI has broken down last week on heavy volume as US indices retrace from their  highs and it seems to have caught local traders by surprise by the depth of the selling which broke through the support level of 3190 mentioned in last week’s market analysis as well as the previous low of 3100. With macro factors such as rising interest rates on US treasuries as well as the stalemate in negotiations in the ongoing trade war between US and China weighing on global markets, we do expect STI...

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Weekly Recap & Upcoming Market Movers – 1st October 2018

Last Week Recap Last week as expected, the US federal reserve hiked rates for the third time this year, raising the fed funds rate by 0.25% to 2.25%. The US central bank said that it expected rates to be raised again for the fourth time this December, three times next year and one time in 2020. The US stock market fell for the week, the S&P 500 declined -0.5% while the DJIA was down -1.1%. Canada has agreed on a trade deal with the US and Mexico, keeping the NAFTA trilateral trade relation intact. The new deal is named the “United States-Mexico-Canada Agreement”....

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