The Week Ahead May 2022 - [STI, HSI, NASDAQ & S&P]

What a week for the markets! Very interesting set ups for each markets and there’s so much happening. China cutting interest rates and shanghai coming out of lockdown very soon. china government looking to support the tech sector and stop regulations, giving a boost to the tech sector. US inflation is looking to soften. The S&P 500 dipped into bear market territory but managed to close above that. Could this be the start of a sustained rebound? Do remember to check out all our updates on our Facebook too!

STI

The bounce came in for STI as regional market tries to find their footing and ended up on a positive note for the week. STI currently near the horizontal resistance of around 3249 but we do think that its possible for more upside as the banks for building a base and might look to rebound in the coming week. Upside resistance at 3297 to cover that mini gap.

HSI

HSI cautious moved up during the week and ended with a bang as China cuts their interest rates which gave the market a much need boost. It is now at the important downtrend resistance line. Its the third time testing this line and usually it takes about 4 times for a stronger break. But with news of a interest rate cut, this might help in the push up so we’re looking for a break and even a test of around 22390 level in the coming weeks. Remember this is more for short term trading. For Long term holders, if you have been following us then you probably might have a position in the HSI already. So continue to hold for that and wait for the bigger recovery to come.

Have a great trading week ahead!

And do go to our Facebook for Nasdaq and S&P 500 updates.

Yours

Humbly

Kelwin & Roy

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