- Wall Street’s three main indexes closed at record highs on Thursday as investors grew more optimistic about a coronavirus stimulus bill, helping markets look past signs of economic strain brought on by the COVID-19 pandemic. Dow Jones rose 148 points while S&P 500 and Nasdaq Composite gained 21 and 106 points.
- Top Republicans and Democrats grew closer to agreeing on a fresh round of aid in response to a crisis that has killed nearly 309,000 Americans and thrown millions out of work. Many investors saw the passing of new measures to support the economy as imminent after data showed the number of Americans filing first-time claims for jobless benefits unexpectedly rose last week.
- Google-parent Alphabet dipped nearly 1% after a group of 38 U.S. states and territories filed an antitrust complaint accusing Google of trying to extend its search monopoly to dominate smart speakers, televisions and cars.
- Asian stock fell on Friday morning, failing to catch a broader global rally as the investor mood in the region shifted to broader caution about the economic outlook and as post-Brexit worries weighed. Hang Seng index slipped 197 points and Nikkei 225 index fell 49 points.
Britain and the European Union struck a pessimistic tone in trade talks on Thursday, with a spokesman for Prime Minister Boris Johnson saying it was “very likely” there would be no agreement unless the bloc changed its position “substantially”.
Dow Jones Index
(CFD Symbol: US30)
Last : 30,218
This index is now consolidating after breaking above the resistance high at 29,195. The 20EMA is rising steadily and is providing support to price at 29,900. As long as the 20EMA holds, we could see further rally towards 31,130 if price breaks above its all-time high at 30,329. Stochastic is still strong at the overbought region and is turning up again. MACD remains bullish at the moment.
Buy 30,050 for 30,350 with a stop below 29,900.
Hang Seng Index
(CFD Symbol: HK50)
Last : 26,488
This index is still moving within a consolidation range. A Hammer candlestick was formed three days ago at the lower consolidation zone, which could be a hint for a move to retest the upper boundary at 26,820. Stochastic is at the oversold region and is now turning up, suggesting potential upward movement ahead. MACD is still bullish and a bullish crossover could be likely.
Buy 26,300 for 26,900 with a stop below 26,050.
Nasdaq 100 Index
(CFD Symbol: USTec)
Last : 12,724
Target price :
This index created a new all-time high at 12,764 last night. The next resistance lies at 13,060 which is the Fibonacci 161% projection level. The 20EMA is rising and is acting as support at 12,410. Do cautious and watch out if price turn the other way round as there could be forming a MACD divergence warning. Stochastic is turning up now and MACD is still bullish
Wait for better trading idea.
S&P 500 Index
(CFD Symbol: US500)
Recommendation: Long @ 3660
Target price: 3710 Filled
Protective stop: 3620
This index managed to stay above the rising 20EMA, which is acting as support at the moment at 3657. As long as this support holds, the bullish trend remains intact, and there is chance for price moving higher towards 3745. Stochastic is still strong and is turning up again. MACD is still bullish at the moment.
Buy 3660 for 3710 with a stop below 3620. Entry order was filled on 15 Dec. Profit order was filled on 17 Dec.