S&P500 has tumbled ~ 1% twice since early August. The superb uptrend took a rest meantime. Looking backwards, it formed triple top break up ~ 2400 end of May, so that could be critical support for recent downfall. Market is facing some uncertainties meanwhile, such as political risk in US, geographical tensions in Korea Peninsula, terrorist attack in Europe. Of course most important concern shall be actual rate hike pace from FOMC. Yellen and her committee has relentlessly indicated for bond purchasing to be cut down soon. It shall be time to reshuffle your portfolio. Take profit from earning counter and also do value hunting (laggard from recent bullish run) while market is panicking.
Market Calendar on coming week:
In the US, investors will be waiting for new and existing home sales, durable goods orders and flash Markit PMIs. Elsewhere, key data include UK and Germany GDP growth; Japan inflation rate and manufacturing PMI; and flash PMIs for the Eurozone, Germany and France.
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan).
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