• Trump’s victory in 2016 US election caused global markets to diverged. US had a 180 degree reversal from down to uptrend while other Asian markets received selling pressure.

This week market technical outlook

•             Trump’s victory in 2016 US election caused global markets to diverged. US had a 180 degree reversal from down to uptrend while other Asian markets received selling pressure.

•             This is because the president-elect vowed to create trade barriers with most countries outside of US.

•             The market reaction signal strong fund outflow from Asian to US markets.

•             The Asian markets could remains under pressure this week.

S&P500 (SPX) (Upgraded from downtrend) - May consolidate within 2150-2165 before trying to break above 2165

Hang Seng (HSI) - HSI should be supported by the 200MA at 22232.

Strait Times (STI)- Could consolidate within a descending triangle. Watch out for a bearish breakout.

KLCI (Downgraded from sideway)- KLCI should be supported at 1635. Otherwise, it could decline to 1615.