Market News
- Stocks ended the day lower as investors feared the latest round of trade talks between the U.S. and China are unlikely to settle the trade war between the world’s largest two economies.
- The Dow Jones fell 139 points, S&P was down 8 points and Nasdaq Composite was lower by 23 points with implementation of new tariffs from Trump set to go into effect after midnight. Some losses were pared on Thursday after Trump said it is possible to get a trade deal with China this week
- A 12:01 a.m. ET Friday deadline has been set by U.S. President Trump for the implementation of higher tariffs on $200 billion worth of Chinese goods. China has said it will retaliate if higher tariffs are imposed.
Market Views
- Stocks in Asia rose in Friday morning trade, despite an impending increase in U.S. tariffs on Chinese goods, set to go into effect at noon on Friday.
- Chinese Vice Premier Liu He is currently in Washington for trade negotiations with the U.S. First day of talk ended with no news. Investors remain on the edge as they continue to monitor for developments on Sino-U.S. trade front.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 25,793
Target price:
Protective stop:
Outlook
We are maintaining a neutral view for now until outcome of tariffs is clearer. Price has declined lower but it has managed to stay above an important support. However MACD is still bearish and Stochastic is still moving lower. 20EMA is bearish. We will wait for clearer indication and outcome of trade talks.
Trading Idea
Wait for better trade idea.
Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 28,492
Target price:
Protective stop:
Outlook
Price closed a gap that had supported the bullish trend since late March 2019. A rally that followed was unable to move above an important resistance as well. The decline has reached the Fibonacci 38% correction point of 2019’s rally. However MACD is bearish and Stochastic is still moving lower. We will wait for outcome of trade talk for a clearer picture.
Trading Idea
Wait for better trading idea.
Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 7568
Target price
Protective stop:
Outlook
This decline has come to an important support point at 7486 and has managed to bounce higher from this support.. MACD is still bearish and moving lower. However, Stochastic is moving higher from oversold extreme. 20EMA is bearish and its gradient steep, hinting of a strong bearish trend. We will wait for outcome of trade talk this Friday.
Trading Idea
Wait for better trading idea and signal
S&P 500 Index
(CFD Symbol: US500)
Trend :
Recommendation :
Last : 2865
Target price:
Protective stop :
Outlook
On the daily chart, Stochastic is declining but MACD is neutral. The decline looks corrective especially after a long rally that started in late Dec 2018. However the corrective decline could be steep as the Fibonacci 38% correction point is at 2712. Much will depend on trade tariffs outcome this Friday. We will wait for a clearer picture.
Trading Idea
Wait for better trading idea.
