Market News
- U.S. major indexes ended sharply lower on Thursday and a rally in U.S. stocks evaporated late in the session as investors considered whether equities were bargains after a sell-off to start the year that has seen the Nasdaq fall into correction territory.
- Concern that the Fed will aggressively move to raise rates this year is taking a toll on the market. Investors are anxiously awaiting the U.S. central bank’s policy meeting next week for new details on how it will tackle inflation.
- Data on Thursday showed the number of Americans filing new claims for unemployment benefits unexpectedly rose last week, likely as a winter wave of COVID-19 infections disrupted business activity.
Market Views
- Asian markets fell on Friday morning, after U.S. stocks took a knock overnight, hurt by lingering concerns over the Fed’s tightening and weaker-than-expected economic and earnings data. Hang Seng index fell 134 points and Nikkei 225 index slid 395 points.
- China cut its benchmark mortgage rates on Thursday, the latest move in a round of monetary easing aimed at propping up an economy soured by the country’s troubled property sector and worries over the Omicron variant of coronavirus.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 34,518
Target price:
Protective stop:
Outlook
This index continued to sink after violating the 20EMA. The 20EMA is still falling, suggesting at the bearish price trend. Stochastic is falling and is at the oversold region. MACD remains bearish with its fast line is far below the zero line. We could see price continue to decline towards its previous low support at 33,950.
Trading Idea
Wait for better trading idea
Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 24,763
Target price:
Protective stop:
Outlook
This index broke out from a Flag pattern yesterday with a long bullish candle. The 20EMA is rising, hinting at a bullish price trend. We are likely to see price continue its upward momentum towards 25,710, which is also near to its previous resistance high. Stochastic and MACD are strong and bullish.
Trading Idea
Look to buy at 24,570 for 25,710 with a stop below 24,100.
Nasdaq 100 Index
(CFD Symbol: USTEC)
Trend :
Recommendation :
Last : 14,619
Target price :
Protective stop:
Outlook
This index was resisted by the falling 20EMA that hints for a bearish price trend. Price fall sharply after violating its previous low support level. It could head lower towards its previous low support at 14,381 as there is no sign of price rebound yet. Both Stochastic and MACD are weak and bearish.
Trading Idea
Wait for better trading idea
S&P 500 Index
(CFD Symbol: US500)
Trend:
Recommendation:
Last: 4441
Target price:
Protective stop:
Outlook
Price has been on a decline after violating a rising trendline. Its violated its previous low support as well. The 20EMA is falling, hinting at a bearish price trend. It could head lower towards its Fibonacci 200% projection level at 4355. Both Stochastic and MACD confirm the bearish trend.
Trading Idea
Wait for better trading idea.
