Market News
- Stocks on Wall Street mostly slid on Monday over concerns of what the coronavirus pandemic will do to corporate earnings. Dow Jones fell 328 points and S&P 500 declined 28 points, while Nasdaq Composite rose 38 points.
- U.S. Treasury yields rose, bolstered by hopes for reopening the U.S. economy weeks after restrictions to fight the fast-spreading disease shut it down. Trump tweeted on Monday, that a decision to restart the economy was solely his and will be make shortly.
- Crude prices were mixed as a global deal on record output cuts failed to quell doubts the pact would head off an oil glut.
Market Views
- Asian stocks bounced on Tuesday morning on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession. Hang Seng index rose 208 points while Nikkei 225 index jumped 358 points.
- In Asia, an expected trade slump in China will reinforce views that the world is headed for a global recession this year, despite an unprecedented burst of stimulus from policymakers in the last two months to shore up growth.
Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 23,734
Target price:
Protective stop:
Outlook
This index is testing the Fibonacci 50% correction point at 23,878 again today. Price has to surpass Thursday’s high at 24,010 for further upside towards 25,220. A failure moves to penetrate above 24,010 could result in this index forming a potential tweezer top pattern and we are likely to see price moving lower to 21,790. Stochastic is still rising at the moment. MACD is still bearish but the fast line is rising above the zero line.
Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 24,464
Target price:
Protective stop:
Outlook
This index broke out from a continuation Flag pattern last Monday. The 20EMA is rising at the moment and is acting as support to the price. As long as price stay well above the 20EMA at 24,160, we are likely to see this index moving towards 25,000 and 25,700. Stochastic is moving higher but could be turning down. MACD is still bearish but the slow line is approaching the zero line as well.
Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 8461
Target price :
Protective stop:
Outlook
This index continued to move higher after breaking out from the triangle consolidation pattern. The next resistance lies at 8560, which is the Fibonacci 62% correction point of the decline. A move above 8651 is likely to target 9075. The 20EMA is rising at the moment and is providing a support layer at 7970. Stochastic is moving higher at the moment. MACD has turned bullish with both lines are above the zero line.
Trading Idea
Wait for better trading idea

Australian 200 Index
(CFD Symbol: AUS200)
Trend:
Recommendation:
Last: 5496
Target price:
Protective stop:
Outlook
Price has been consolidating within a pennant pattern. We are looking forward to this index moving higher towards 6180 once it manages to break above the pennant pattern and the Fibonacci 38% correction point at 5524. Stochastic is moving higher at the moment. MACD is still bearish but the fast line is above the zero line.
Trading Idea
Wait for better trading idea
