What a week! Nasdaq saw an awesome close with AI theme leading the charge! May is turning out to be a positive month for the Nasdaq but relatively flat for the S&P500. So can sell and go away in May be trusted? We stated our point at the start of the month in our blog hinting to more upside than selling and we hoped that you have benefitted from this.

Early in the morning, the white house and republicans reached a tentative deal to avoid US default. The deal will still need to be approved by House and Senate lawmakers by wed to meet the 5 june deadline.

Nasdaq has been running up quite a bit so it might be a case of running ahead of news and selling on the news so beware, don’t anyhow jump in!

Now if you have been bearish all this while, reading too much doomsday prediction, predicting the WORST crash ever you would have missed out the 33% gain just for Nasdaq this year. OR if you’re still shorting the markets hoping for another crash but market keeps on going up. Then our upcoming webinar is for you. If you want to ride the next wave up but still not sure how to do it then we encourage you to attend this and change things around. It is still not too late and there is HOPE for a change! Sign up as soon as there are really limited slots left.

STI

Chart Source: DZH international advisor 28th May 2023

STI saw a rebound as mentioned last week. Banks especially DBS led the rebound and our clients had first dips on it catching the rebound from 30.50. We could see $32 coming this week with positive sentiments out there. Still on course for our rebound target of 3260. We hoped you managed to catch this rebound. Singapore electronic stocks also saw a nice rebound largely led by chip makers overseas.

HSI

Chart Source: DZH international advisor 28th May 2023

Rather disappointed with the HSI as weakness continues to set in and even breaking through our 19k support. We got to see HSI regaining its 19k level by this week if not the downside might be ugly. 18500 is a crucial support and we wouldn’t want that to break. We would want to see a base being formed first before taking any action for now. If you want to get the latest updates on the HSI like our clients then just reach out and we’ll let you know how to be added into our telegram channel.

Head over to our Facebook to find out more about Nasdaq and S&P500 movement this week!

Yours

Humbly

Kelwin & Roy

The post The Week Ahead May 2023 - [STI, HSI, NASDAQ & S&P] appeared first on Singaporehumblestock.