Ming Jong Tey
Independent Analyst
Watch the video from the WLGC session on 17 Dec 2024 to find out the following:
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Is the current market consolidation setting up for a breakout or further retracement.
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What key indicators should traders watch for confirmation of a trend reversal.
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How to use the short-term market breadth oscillating level to anticipate the market turning point.
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and a lot more.
Market environment
The bullish vs. bearish setup is 380 to 227 from the screenshot of my stock screener below.
Three stocks ready to soar
27 actionable setups such as APH, KD, RKLB were discussed during the live session before the market open (BMO).
Amphenol Corporation (APH)
Kyndryl Holdings (KD)
Rocket Lab (RKLB)
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GBP/USD holds above 1.2700 after UK inflation data
GBP/USD enters a consolidation phase above 1.2700 following the earlier decline. The data from the UK showed that the annual CPI inflation rose to 2.6% in November from 2.3%, as expected. Investors gear up for the Fed's monetary policy decisions.
Gold stays at around $2,650, upside remains limited with all eyes on Fed
Gold is practically flat near $2,650 on Wednesday after bouncing up from a one-week low it set on Tuesday. The precious metal remains on the defensive as the market braces for the outcome of the last Federal Reserve’s (Fed) meeting of the year.
Federal Reserve set for hawkish interest-rate cut as traders dial back chances of additional easing in 2025
The Federal Reserve is widely expected to lower the policy rate by 25 bps at the last meeting of 2024. Fed Chairman Powell’s remarks and the revised dot plot could provide important clues about the interest-rate outlook.
Sticky UK services inflation to come lower in 2025
Services inflation is stuck at 5% and will stay around there for the next few months. But further progress, helped by more benign annual rises in index-linked prices in April, should see ‘core services’ inflation fall materially in the spring.
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