Market News
- U.S. stocks finished sharply higher for a second straight day on Tuesday, helped by gains in Amazon and Google-parent Alphabet ahead of their results and by optimism over progress on a U.S. pandemic relief package.
- While Amazon ended the regular session up 1.1%, the company shocked investors after the bell with news that Jeff Bezos would move to the role of executive chairman in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.
- Russian authorities said they will be able to vaccinate about 700 million people this year with the Sputnik V coronavirus vaccine. Nations including India and Mexico are in talks to ink emergency deals to start administering the vaccine.
Market Views
- Asian shares were mixed on Wednesday morning as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programmes accelerated. Hang Seng index slid 162 points while Nikkei 225 index rose 155 points.
- Spot silver rose 1.4% to $26.98 an ounce. That was a minor rebound from an 8% tumble on Tuesday, and analysts say the retail trader-driven rally to a near eight-year peak in the previous session has faded.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 30,716
Target price:
Protective stop:
Outlook
Price rebounded with a Harami candlestick pattern after reaching near to its previous low support zone. It is now testing the 20EMA resistance and if price can stay above it, we could see price retest its all-time high at 31,286 again. Stochastic is rising now. A bullish MACD crossover could be likely.
Trading Idea
Buy 30,500 for 31,150 with a stop below 30,250.
Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 29,018
Target price:
Protective stop:
Outlook
This index rebounded after being supported by the 20EMA support. Price gapped up yesterday and if it can hold above this gap, there is chance for this index moving higher again to test its previous resistance zone at 30,180. Stochastic is still strong. MACD is also bullish at the moment.
Trading Idea
Buy 28,900 for 29,600 with a stop below 28,500.
Nasdaq 100 Index
(CFD Symbol: USTEC)
Trend :
Recommendation :
Last : 13,522
Target price :
Protective stop:
Outlook
Price rebounded from the 20EMA support zone after forming a Bullish Engulfing candlestick pattern two nights ago. The 20EMA is still rising, suggesting the trend is still bullish. Stochastic is rising now. MACD remains bullish and there is a bullish MACD crossover. Price could head higher towards 14,260 if it can break above its resistance high of 13,609.
Trading Idea
Wait for better trading idea
S&P 500 Index
(CFD Symbol: US500)
Trend:
Recommendation:
Last: 3837
Target price:
Protective stop:
Outlook
This index rebounded after slightly violated the 20EMA support. It is now trading above the 20EMA and is rising towards its all-time high resistance at 3869. The 20EMA is now rising, hinting at the bullish trend now. Stochastic is rising at the moment and MACD is still bullish.
Trading Idea
Buy 3770 with stop below 3730 for 3850
