Market News
- Wall Street’s main indexes finished Tuesday’s session with strong gains as investors shook off some anxiety about the latest coronavirus variant after some optimistic comments from a top U.S. official on the latest COVID-19 variant. Dow gained 492 points while the S&P 500 put on 95 points. The Nasdaq was up 461 points.
- Investors appeared to be reassured by Dr. Anthony Fauci, the top U.S. infectious disease official, who told CNN that “thus far it does not look like there’s a great degree of severity to it.” However, he did say that more study is needed.
- A South African study on Tuesday suggested that booster doses of the COVID-19 vaccine produced by Pfizer Inc and partner BioNTech’s could help to fend off infection from Omicron, even though the study showed the new strain can partially evade the protection from two vaccine doses.
Market Views
- Asian shares extended gains on Wednesday, continuing a global relief rally as markets found positive news in early reports about the potential impact of the Omicron variant. Nikkei 225 gained 370 points but Hang Seng was lower by 38 points.
- British drug maker GSK said on Tuesday its antibody-based COVID-19 therapy with U.S. partner Vir Biotechnology is effective against all mutations of the new Omicron coronavirus variant.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 35,814
Target price:
Protective stop:
Outlook
This index has moved above its 20EMA, turning the trend bullish. Two strong green candlesticks are hinting of a strong price trend ahead. The rally is likely to continue towards its previous high of 36,565. Stochastic is rising from the oversold zone and is hinting at a price rally. MACD is bearish but its fast line has moved above the zero line.
Trading Idea
Buy 35,375 for 36,550 with a stop below 35,050.
Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 24,005
Target price:
Protective stop:
Outlook
This index has moved off its low at 23,184 but will need to move above its 20EMA to re-gain its bullish impetus. 20EMA is bearish and is hinting at a bearish price trend. Stochastic is in the oversold zone and has a bullish crossover. MACD is bearish and is hinting at a bearish price trend.
Trading Idea
Wait for better trading idea
Nasdaq 100 Index
(CFD Symbol: USTEC)
Trend :
Recommendation :
Last : 16,390
Target price :
Protective stop:
Outlook
This index has moved above its 20EMA at 16,100, hinting at a new bullish price trend. Stochastic has a bullish crossover and is moving higher. MACD is about to turn bullish but there was a divergence warning of a possible price high. 20EMA is turning bullish as well. We think this index can proceed higher to its previous high at 16,750.
Trading Idea
Buy 16,150 for 16,750 with a stop below 15,800.
S&P 500 Index
(CFD Symbol: US500)
Trend:
Recommendation:
Last: 4703
Target price:
Protective stop:
Outlook
This index has moved off its low at 4493 and could be heading towards its previous high at 4744. Price has also moved above its 20EMA, hinting at a bullish price trend. Stochastic has a bullish crossover near to the oversold zone and is hinting at a bullish price trend. MACD remains bullish but has given a divergence of a possible price high.
Trading Idea
Wait for better trading idea
