• S&P500 (SPX) - SPX is in an impulsive wave 5 movement and the next resistances are at 2920 and 2325.

This week market technical outlook

•             S&P500 (SPX) - SPX is in an impulsive wave 5 movement and the next resistances are at 2920 and 2325.

•             Hang Seng (HSI) - If HSI manage to break above the downtrend line, it could turn into an uptrend and wave 5 to retest the previous high at 24000. Otherwise, it could retrace to 22170.

•             Strait Times (STI) - STI is now re-testing the 2960 resistance. If that level is broken, next upside targets for STI would be 3040 and 3100. Otherwise, it should trade within 2960 and 2900.

•             KLCI - With KLCI’s current strong upward momentum, the index has a good chance to break above the 1675 level to retest 1700 in the mid-term. If KLCI unable to break above 1675 in this week, it could consolidate below this level or retrace to 1650.