Market News
- Stocks moved higher on Thursday after comments from 2 top voting Fed officials led to increasing bets that the central bank will ease monetary policy more aggressively at its policy meeting at the end of July.
- Overnight stateside, the major indexes saw their first gains in three sessions. Dow Jones ended the day up only 3 points, after dropping as much as 151 points. S&P 500 rose 10 points and Nasdaq Composite gained 22 points.
- The major indexes turned around in the afternoon came after New York Fed President John Williams said the central bank needed to “act quickly” when the economy was slowing and rates were low. He enforced that it is better to take preventative measures than to wait for disaster to unfold.
- Market Views
- Asian stocks were higher on Friday morning, as comments from a U.S. Fed official led to rising expectations the central bank could ease monetary policy more than expected. Nikkei advanced 347 points and Hang Seng was up 337 points.
- Tensions in the Middle East heated up further on Thursday, with Trump saying an American Navy ship had destroyed an Iranian done in a “defensive action”. The announcement came hours after Iranian forces seized a foreign tanker it accused of smuggling oil.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 27,326
Target price :
Last : 27,326
Target price :
Protective stop :
Outlook
Price hit its record high at 27,403 on Monday. A bearish red candlestick was formed last night after breaking below the consolidation for the past two days. The divergence warning is also giving concern. We could see a possible retracement back to the uptrend line at 27,000. A breach of 27,000 would hint at further downside at 26,430-26,460. Stochastic is crossing down and there is a bearish MACD crossover.
Trading Idea
Wait for better trading idea.
Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 28,807
Target price:
Protective stop:
Outlook
Price broke above the consolidation range and
triangle pattern today with a gap up. It is also moving above the 20EMA. As
long as today’s gap is not closed, price could be heading towards its previous high
at 29,070. Should price penetrate above 29,070, it could be testing the gap
resistance at 29,520. The Stochastic is rising and the MACD is bullish.
Trading Idea
Wait for better trading idea.
Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 7951
Target price:
Protective stop:
Outlook
Price rebounded from
the 20EMA last night. It could be heading towards the resistance point at 8000.
However, with the given divergence warning, we could see a pullback if price
fail to break above 8000. Stochastic is in the overbought region and could turn
down. The MACD is still bullish at the moment.
Trading Idea
Wait for new trading idea and opportunities.
S&P 500 Index
(CFD Symbol: US500)
Trend :
Recommendation :
Last : 3004
Target price:
Protective stop :
Outlook
Price tested the uptrend line which is also near the 20EMA and rebounded last night. Price could be heading towards the Flag pattern target at 3046 should it stay well above the trendline. There was a divergence warning from MACD that was giving concern. A breach of the trendline would hint at the downside at 2910. The Stochastic is crossing down from the overbought region but the MACD is still bullish at the moment.
Trading Idea
Wait for new trading idea and opportunities.
