Market News
- Last night, S&P 500 posted new record close, but gains in stocks were capped by concerns that the U.S. could bring its tariff threat to Europe. Dow Jones was up 69 points and Nasdaq Composite rose 17 points.
- U.S. government on Monday threatened to impose tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies. The new wave of proposed duties comes amid a 15-year dispute at the World Trade Organization over aircraft subsidies given to U.S. aerospace manufacturer Boeing and its European rival, Airbus.
- On the U.S-China front, though Trump said the meeting went as well as it could have, he said Monday that any trade deal with Beijing would be “somewhat tilted” in favor of Washington.
Market Views
- Asian shares were subdued on Wednesday as initial enthusiasm over the latest U.S.-China trade truce was overtaken by fresh concerns over Washington’s threat of tariffs on additional European goods. Nikkei slid 145 points while Hang Seng was down 81 points.
- Global bond yields are also hitting new lows as investors bet on further monetary easing around the world amid faltering global growth. Bank of England Governor Mark Carney on Tuesday flagged uncertainties stemming from trade disputes and Britain’s departure from the European Union even as he stuck to his line that the central bank could raise rates in event of a smooth Brexit.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 26,757
Target price:
Protective stop:
Outlook
Price broke above a continuation pattern, the flag pattern, with a bullish green candlestick on Friday. The 20EMA is still bullish and heading upwards. Price could be testing 26,909 again. Should price manage to break above 26,909, it could go higher to test the flag pattern target at 27,500. Stochastic has turned up and MACD is still bullish.
Trading Idea
Wait for dip to buy or buy on the break of 26,909.
Hang Seng Index
(CFD Symbol: HK50)
Trend : Bullish
Recommendation : Long
Last : 28,857
Target price: 29,510
Protective stop: 28,000
Outlook
Price broke above the triangle pattern with a gap up yesterday. The 20EMA is still strong and bullish. Should price stay firm above 28,802, price could be testing the overhead gap resistance zone at 29,377 to 29,480. Stochastic is in the overbought region but still look strong as it is crossing up again. MACD is also bullish at the moment.
Trading Idea
Buy dip to 28,500 for 29,510 with stop below 28,000. Trade idea was executed 27 June 2019.
Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 7803
Target price :
Protective stop:
Outlook
Price rebounded from the downtrend line last Wednesday. The 20EMA is still strong and bullish. Price could test its previous high at 7790 again. A move above 7790 would hint at a possible higher target at 7859 and even 8000. Stochastic has turned up and MACD is still bullish at the moment.
Trading Idea
Wait for new trading idea and opportunities.
Australian 200 Index
(CFD Symbol: AUS200)
Trend :
Recommendation :
Last : 6739
Target price:
Protective stop :
Outlook
Price is breaking out from the flag pattern today. It is also trading near its all time high at 6752. The 20EMA is still strong and bullish. Price is likely to test 6752 again. Should price break above 6752, price could be heading towards 6861. Stochastic has turned up again and the MACD is still bullish at the moment.
Trading Idea
Buy on breakout of 6755 for 6861 with stop below 6655
