Market News
- Wall Street notched records highs on Thursday as optimism about a U.S.-China trade deal firmed and the ease of the tension between U.S. and Iran after Iran’s foreign minister said the missile strikes on Iraqi bases that house U.S. forces had “concluded” Tehran’s response.
- Strong gains in Apple shares helped to lift the market higher as well as data showing iPhone sales jumped more than 18% in China in December, resulting Dow Jones rallied 211 points.
- Back on Sino-U.S. trade front, Vice Premier Liu He will sign a Phase 1 deal in Washington next week. Trump said his administration will start negotiating the Phase 2 trade agreement soon but that he might wait to complete any agreement until after November’s presidential election.
Market Views
- Shares in Asia were mixed on Friday morning as a relief over de-escalation of U.S.-Iranian tensions quickly prompted investors to bet on faster global growth, especially in the technology sector. Nikkei 225 index rose 36 points while Hang Seng index fell 22 points.
- Eurasia Group analysts said that if Iraq becomes the fighting ground in a potential armed conflict between Washington and Tehran, it would mean OPEC’s second-biggest producer and one of the few countries with significant recent output increases would come under high risk of supply disruption.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 29,012
Target price:
Protective stop:
Outlook
The index experienced a huge selloff on Wednesday, sending the price lower to test the lower rising trendline support, which is also the previous resistance-turned-support level. Price rebounded from there thereafter It broke above its previous resistance high and formed a new all-time high at 28,983 last night. As long as price remains in the rising channel, our bullish view unchanged. The next resistance comes in at 29,650. Stochastic is moving higher and MACD is bullish at the moment.
Trading Idea
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Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 28,559
Target price:
Protective stop:
Outlook
A Dark Cloud Cover candlestick pattern, which is a top reversal pattern, had sent the index lower to 27,870, which is the 20EMA. Price rebounded from there thereafter and is now challenging the rising trendline resistance. It will need to break above 28,930 for 29,300. A failure move to surpass this resistance level would likely to send the index lower towards 27,500. MACD is still bullish but there is potential divergence warning and Stochastic is moving lower.
Trading Idea
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Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 9013
Target price :
Protective stop:
Outlook
Last night, this index recorded a new all-time high at 9004 after being supported by the rising 20EMA one night ago. Price is still moving along with the rising 20EMA and is within the rising channel, the next resistance comes in at 9067. MACD is still bullish at the moment and Stochastic is still strong and is moving higher.
Trading Idea
Wait for better trading idea
S&P 500 Index
(CFD Symbol: US500)
Trend :
Recommendation :
Last : 3281
Target price:
Protective stop :
Outlook
The index created a new all-time high of 3275 last night after being supported by the rising trendline. The 20EMA is still rising and is strong and as long as price moves along with the rising trendline, the uptrend remains intact. The next resistance lies at 3340. MACD is still bullish at the moment and Stochastic is still strong and is moving higher.
Trading Idea
Wait for better trading idea.
