Market News
- U.S. stocks ended higher on Tuesday, led by a 2% gain in the NASDAQ, as shares of technology and other big growth names rebounded from recent losses and Nike rose after it reported upbeat results.
- Fed raised the federal funds rate by a quarter of a percentage point from the near-zero level last week, and Fed officials are doing little to downplay rising market expectations the U.S. central bank will raise rates by half a percentage point in May to tame inflation.
- Ukrainian officials said the besieged port city of Mariupol is under continuous bombardment as Russian forces redouble their efforts to capture it. President Joe Biden and allies will meet in Brussels, where they are expected to announce new sanctions against Russia over its invasion of Ukraine on Feb. 24.
Market Views
- Asia Pacific stocks were up on Wednesday morning, with the U.S. Fed’s tougher stance on inflation driving gains on Wall Street but deepening a Treasury selloff. Hang Seng index rose 362 points and Nikkei 225 index gained 747 points.
- Investors will also monitor commodity markets, with the U.S. and U.K. reaching a deal to ease tariffs on British steel and aluminum that could ease some inflationary pressures.
Dow Jones Index
(CFD Symbol: US30)
Trend:
Recommendation:
Last: 34,853
Target price:
Protective stop:
Outlook
This index has turned bullish as price is trading above the 20EMA. 20EMA is rising as well, hinting at a bullish price trend. MACD has turned bullish and Stochastic is at the oversold region. A correction towards the 20EMA is likely for an entry opportunity.
Trading Idea
Wait for better trading idea
Hang Seng Index
(CFD Symbol: HK50)
Trend:
Recommendation:
Last: 22,244
Target price:
Protective stop:
Outlook
This index rebounded strongly after forming a bullish Hammer. It has penetrated above the 20EMA. As long as price can stay above the 20EMA, a rally is likely to continue. Both MACD and Stochastic are rising and bullish.
Trading Idea.
Wait for better trading idea
Nasdaq 100 Index
(CFD Symbol: USTec)
Trend:
Recommendation:
Last: 14,652
Target price:
Protective stop:
Outlook
Price has formed a base low at 12,945 as it had tested this support zone on three occasions. It moved above the 20EMA and is going to test 15,540 resistance point. Stochastic and MACD are bullish and are rising.
Trading Idea
Buy 13,550 with a stop below 13,250 for 14,200.
S&P 500 Index
(CFD Symbol: US500)
Trend:
Recommendation:
Last: 4516
Target price:
Protective stop:
Outlook
Price has formed a base low at 4106 as it has tested this support zone on three occasions. It moved above the 20EMA and if it able to maintain above the 20EMA and penetrate above its recent price high, we could see more upside towards 4580. Both Stochastic and MACD are bullish
Trading Idea
Buy 4460 with a stop below 4370 for 4590.
