Supply: https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
Us ended with a bang on Friday night time because the celebration carried on. Nasdaq used to be up 2% as brief dealers rush to hide their positions because the bulls were given more potent. As marketplace closed on Friday Moody’s got here out with a minimize on US outlook credit standing from solid to unfavorable. US futures used to be off somewhat and the actual have an effect on may simplest be felt when marketplace opens. This wouldn’t be too regarding with most probably a knee jerk response.
What marketplace can be in search of this week? CORE CPI the next day night time (tuesday night time US). A beneficial quantity may rule out any price hike for dec bumping the chance to even 90% . This would additional gasoline the rally which we’re witnessing and with a bit of luck you’ve got benefitted from too . So eyes might be on that.
STI
Supply: DTZ thirteenth Nov 2023
Our Straits Instances Index hit our first resistance goal of 3182 and began pulling again from there. The primary make stronger of 3120 didn’t grasp because of this shall we now see the index drop to 3080 as the following make stronger. Thus far banks have reported their effects with most commonly being inline with expectancies. No longer a lot catalyst left for our marketplace be expecting to apply the overall sentiments. With Nov and Dec seasonally being higher months, shall we see basic cut price trying to find the marketplace which might elevate the index. Searching for a base to shape round 3050-3080 stage earlier than a jump. Additionally, IFAST does glance somewhat prolonged and a pullback might be across the nook.
HSI
Supply: DTZ thirteenth Nov 2023
The grasp seng index had a just right rebound hitting our 18k resistance. Even though we’d have appreciated the HSI to rebound additional the rebound used to be brief lived and promoting resumed. We had been taking a look out for the 5ema make stronger which didn’t grasp thus noticed extra drawback for the HSI. One remaining make stronger can be on the 16900 stage. HSI used to be open on monday and it held its floor lovely smartly. It’s nonetheless in a down development and simplest staying above 18k then would we believe that the fashion could be reversing. For now resistance at 17500. Breaking this is able to see it transfer as much as the resistance of 18k. Taking a look bullish to us.
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Kelwin & Roy
