Tick Insights

Market News

• The benchmark S&P 500 index and the Dow ended lower in choppy trading on Thursday after a short-lived boost from a string of economic reports faded and investors eyed key jobs data due on Friday. The Nasdaq finished slightly higher.
  
• In August, U.S. private employers hired the fewest workers since January 2021 and data for the prior month was revised lower, potentially hinting at a sharp labor market slowdown, according to the ADP National Employment Report.
  
• September has been historically weak for U.S. equities, with the S&P 500 down about 1.2% for the month on average since 1928. The index is down more than 2.5% so far this week and tech stocks have fallen about 4.8%.

Market Views

• Asia-Pacific markets mostly fell on Friday morning as investors brace for a crucial jobs report from the U.S. and digest household spending data from Japan. Nikkei 225 index fell 192 points, while Hong Kong market was shut today due to Super Typhoon Yagi.
  
• Oil is facing the worst week since October 2023 as demand worries weighed against a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 40,782

Target price:

Protective stop:

Outlook
Price was capped by the support-turned-resistance zone, coinciding with the falling 20EMA. Stochastic remains weak and MACD is bearish with both of its lines below the zero line. It has to penetrate 41,130 for more upside.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 17,444

Target price:

Protective stop:

Outlook
Price rebounded from its previous low support zone. There is potential divergence warning given from the MACD that hints at more upside ahead. Stochastic is rising too. We could see price penetrating its recent low to move higher.

Trading Idea
Buy 17,360 for 17,770 with a stop below 17,160

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @17,090

Last: 18,839

Target price: 18,700 filled

Protective stop: 20,070

Outlook
Price was capped by its resistance, coinciding with the falling 20EMA. It could be forming a bearish flag, hinting at more downside ahead. Stochastic is weak and MACD remains bearish.

Trading Idea
Sell 19,070 for 18,700 with a stop above 20,070. Entry and profit orders were filled on 5 Sept.

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,588

Target price:

Protective stop:

Outlook
Price has been moving lower after forming a price top at 18,997. It is currently capped by its resistance zone that coincides with the falling 20EMA. Stochastic is weak and MACD is bearish. We could see price continuing to move lower.

Trading Idea
Sell 18,630 for 18,380 with a stop above 18,720

Market News

• Wall Street’s main indexes slid on Tuesday, with the S&P 500 down more than 2% and the Nasdaq Composite down over 3%, marking their biggest daily drop since early August as investors softened their optimism about AI in a broad market sell-off that accelerated after tepid economic data.
  
• The chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street. Nvidia shares continued sliding in post-market trading Tuesday, falling 2%, after Bloomberg reported that the company received a subpoena from the Department of Justice as part of an antitrust investigation.
  
• Recent data from China pointed to an economy that’s still struggling to mount a solid recovery, raising calls for further stimulus from Beijing. Worries over the sluggish outlook in China, the world’s biggest oil importer, have in turn further exacerbated the decline in oil prices due to expectations of weakening demand.

Market Views

• Asian markets tumbled on Wednesday, led by a heavy decline in technology names and as worries about the global growth outlook drove investors out of risky assets, while oil prices hit multi-month lows. Hang Seng index dropped 189 points and Nikkei 225 index slumped 1,387 points.
  
• Contract chip manufacturer Taiwan Semiconductor Manufacturing Company declined 4.3%. TSMC manufactures Nvidia’s high-performance graphics processing units which power large language models — machine learning programs that can recognize and generate text.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation: Long @ 41,357

Last: 40,789

Target price: 41,560

Protective stop: 41,270 triggered

Outlook
Price has formed a price top at 41,592. It broke below its support zone, suggesting the increased downward momentum. The 20EMA is falling and MACD has turned bearish. We could see price moving lower.

Trading Idea
Buy now 41,357 for 41,560 with a stop below 41,270. Entry and stop orders were filled on 30 Aug

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 17,398

Target price:

Protective stop:

Outlook
Price unable to form a new higher high after being capped at 18,220 resistance for a third occasion. If price further violates 17,000, we see price moving lower to 16,200. Stochastic is falling and MACD has a bearish crossover.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 18,801

Target price:

Protective stop:

Outlook
Price has been declining after being capped at 19,630 resistance for a fourth occasion. The 20EMA is falling, hinting at a bearish price trend. Stochastic is at the oversold zone and MACD remains bearish. We see price continuing to move lower.

Trading Idea
Sell 19,070 for 18,700 with a stop above 20,070

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,542

Target price:

Protective stop:

Outlook
Price has formed a price top at 18,997 yesterday. The 20EMA is falling, turning the price trend to bearish. Stochastic is falling and MACD has turned bearish. We see price continuing to move lower for this week.

Trading Idea
Wait for better trading idea