Tag: AUS200

CFD Indices – Wall Street Weighed Down By Concerns Over Corporate Earnings

Shueh Ting Wong

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

Related Posts

CFD Indices – Hang Seng Declined On Moody’s Downgrade

Shueh Ting Wong

Market News

  • U.S. was closed for a holiday last night. World stocks traded just below record highs on Monday, pausing ahead of this week’s central bank meetings, economic data and earnings, while oil prices rose to their highest in over a week after blockades began shutting down two Libyan oilfields.
  • The International Monetary Fund (IMF) said Monday that the global economic outlook “remains sluggish” as it trimmed its growth forecasts for 2019 and 2020 to 2.9% and 3.3%, respectively. The projected recovery for global growth remains uncertain as well.
  • The upcoming earnings results for Netflix and Intel on Tuesday and Thursday in U.S. are going to be insightful for the tech sector, whilst UBS tomorrow, ASML on Wednesday and Ericsson Friday will be helpful on perceptions towards Europe.

Market Views

  • Stocks in Hong Kong led losses regionally among major Asian markets on Tuesday morning after ratings agency Moody’s cut its rating for the city to Aa3 from Aa2 on Monday. Hang Seng index plunged 560 points and Nikkei 225 index lost 180 points.
  • The morning session’s decline was due to the ratings downgrade from Moody’s, where the agency also changed its outlook for Hong Kong to stable from negative. The city has been plagued by months of protests that have periodically degenerated into violence, with seemingly no resolution in sight.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 29,208
Target price:
Protective stop:

Outlook
This index created a new intraday record high at 29,402 last Friday, but ended the day with a Shooting Star candlestick pattern. This is a hint of bearish reversal. A Doji candlestick pattern was followed-through and today we see a price decline. Price could be moving lower to test its 20EMA at 28,860. Price will have to break above this high for further rally towards 29,650. Stochastic remains in the overbought region and could turn down. MACD is bullish at the moment.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)
Trend : Bearish
Recommendation : Short
Last : 29,049
Target price: 28,450 reached
Protective stop: 29,250

Outlook
This index could not break above its previous resistance high which is also near to the Fibonacci 162% projection level. It gap down today and fell inside the rising channel. The immediate support is at the resistance-turned-support zone at 27,880-28,000. We could see further downside if this zone cannot hold. Stochastic has turned down. MACD is bullish but there was divergence warning given earlier.

Trading Idea
Sell 29,180 for profit objective at 28,450 with stop above 29,250 was filled on 20 Jan 2020.

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 9118
Target price :
Protective stop:

Outlook
Last Friday, a new record high was created at 9177. Price broke above the rising channel and the 10EMA is acting as support at 9050. The next resistance comes in at 9447 and a move below the 10EMA will target the lower rising trendline. Stochastic is still strong but it remains in the overbought region. MACD is still strong and bullish at the moment.

Trading Idea
Wait for better trading Idea.

Australian 200 Index
(CFD Symbol: AUS200)
Trend :
Recommendation :
Last : 7099
 Target price:
Protective stop :

Outlook
The index created a new all-time high at 7154 last Friday but ended with the day with a Hanging Man candlestick pattern. Price gap down today and is moving lower, forming an Island reversal candlestick pattern, which is a hint of a toppish pattern. It could be heading lower towards the 10EMA at 7040 and a move below 10EMA would target the resistance-turned-support level at 6950. Stochastic is at the overbought region and is turning down. MACD is still bullish at the moment.

Trading Idea
Wait for better trading idea.

Related Posts

CFD Indices – US Indices Hold Steady Despite No Rate Cut

Shueh Ting Wong

Market News

  • U.S. three major indexes ended modestly higher on Wednesday after Fed held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely. The Dow rose 29 points, S&P 500 was up 9 points and Nasdaq Composite gained 37 points.
  • The U.S. central bank said moderate economic growth and low unemployment are expected to continue through next year’s presidential election. They believe that they have taken out enough insurance to prevent a downturn.
  • Reuters reported that Trump is expected to meet Thursday with top advisers to discuss tariffs on nearly $160 billion of Chinese consumer goods that are scheduled to take effect on Dec. 15.

Market Views

  • Asian stocks edged higher on Thursday morning after Fed signaled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-U.S. trade talks kept investors cautious. Hang Seng index climbed 388 points and Nikkei 225 index rose 51 points.
  • Exit polls for Britain’s election will begin around 2200 GMT Thursday after voting closes and official results will begin to trickle in. Polls show the Conservatives’ lead shrinking ahead of an election starting later today, which could jeopardize chances of a smooth Brexit.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 27,949
Target price:
Protective stop:

Outlook
The index has rebounded from the resistance-turned-support level, which is also near to the Fibonacci 38% correction point. It has been supported by the rising 20EMA for the past two days. Price will need to break above its new intraday historical high at 28,202 to be bullish again and for a test of 28,866. A failure to penetrate above 28,202 will likely bring the index back to test the support range at 27,260-27,320 again. Stochastic is now moving higher but is weak. MACD is bullish at the moment.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 27,090
Target price:
Protective stop:

Outlook
Price opened with a gap up today, and it managed to break above its overhead 20EMA resistance and the gap resistance of 26,786. As long as price stay above this gap support, it would increase the likelihood of this index testing 27,315 or even higher at the gap resistance range from 27,475 to 27,628. MACD is bearish but there is a bullish divergence warning and a bullish crossover was seen. Stochastic is also moving higher.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 8411
Target price :
Protective stop:

Outlook
The index touched its all-time high of 8453 last Monday, but closed at its day’s low, resulting in the formation of a Reversal Day pattern. Price tested the channel resistance but the attempt failed. We could see price moving lower towards the breakout level of 8034 if price move below the rising 20EMA at 8310. Price will need to penetrate above its all-time high to be bullish again. Stochastic is moving higher but is weak. MACD is bullish but the slow line is moving lower towards the zero line.

Trading Idea
Wait for better trading idea

Australian 200 Index
(CFD Symbol: AUS200)
Trend :
Recommendation :
Last : 6748
 Target price:
Protective stop :

Outlook
The recent attempt by this index to move higher was resisted near the small gap resistance at 6815. Price is now hovering around the relatively flat 50EMA. A spinning top candlestick pattern was seen yesterday, and a bearish follow-through candlestick could be in the formation. As long as this small gap resistance holds, we could see price moving lower towards its previous low at 6627 or even lower to the rising trendline support. The Stochastic is turning around and is likely to cross down. The MACD has turned bearish with both lines are below the zero line.

Trading Idea
Wait for better trading idea.

Related Posts

CFD Indices – Signs Of A Peak

Shueh Ting Wong

Market News

  • Dow Jones and S&P 500 slipped from record levels on Tuesday as dour forecasts from retailers Home Depot and Kohl’s fuelled worries about consumer spending and the U.S.-China trade dispute dragged on. Nasdaq Composite had a slight gain of 20 points.
  • Trump on Tuesday threatened to escalate the trade war by raising tariffs on Chinese imports if no deal is reached with China, despite saying talks were “moving along fine”
  • The minutes from Fed’s latest monetary policy meeting that will release on Wednesday will also be one of the focus points, in which it cut interest rates for the third time this year but signalled it may be done with rate easing for now.

Market Views

  • Asian shares lumbered lower on Wednesday morning as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages; while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks. Hang Seng index fell 171 points and Nikkei 225 index declined 173 points.
  • Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. That followed reports Russia was unlikely to deepen its cuts to crude output.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 27,867
Target price:
Protective stop:

Outlook
The index made a new historical high at 28,161 last night, but closed near its day’s low. Price is now moving lower to test the 10EMA. We could see a possible price correction to test the upper trendline support at 27,235, which is also the Fibonacci 38% retracement point, if price breaks below the 10EMA. MACD is strong and bullish at the moment, but a bearish crossover is likely in the coming session, hinting at potential downward price movement. Stochastic is in the overbought extreme and could move down.

Trading Idea

Sell 27,950 for 27,235 with stop above 28,170.

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 26,943
Target price:
Protective stop:

Outlook
Price reached the Fibonacci 50% retracement point at 26,192, and has bounced up strongly. Price is now testing the overhead 20EMA and gap resistance at 26,903-26,967. The index needs to move above this level to advance higher. A failure move above this level is likely to bring price lower to test its low again at 25,540. Stochastic is moving towards its oversold extreme and is turning up. MACD is still bullish at the moment and the fast line is turning up as well.

Trading Idea

Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 8303
Target price :
Protective stop:

Outlook
The index made a new all-time high of 8374 again last night and has remained in a rising channel and above the breakout level since end-August. The next resistance lies at 8492. Price is now trading near the 10EMA and the lower channel. The index will only turn bearish if it moves below the channel or the 10EMA. A move below the channel would target for the breakout level at 8034. Stochastic is in its overbought extreme. MACD is strong and bullish but there is divergence warning given along the way, and a bearish crossover was seen

Trading Idea
Wait for better trading idea

Australian 200 Index
(CFD Symbol: AUS200)
Trend :
Recommendation :
Last : 6771
 Target price:
Protective stop :

Outlook
Price was resisted for the fifth time at its recent high resistance that ranged from 6834 to 6848. A long shooting star candlestick pattern was formed yesterday, and price is forming a follow-through bearish candlestick today. Price is heading downwards towards the 50EMA support at 6738. A move below 50EMA would target 6616. Stochastic is moving down. MACD is still bullish at the moment but is losing momentum as the histogram is relatively short. There is also a bearish MACD crossover.

Trading Idea

Wait for better trading idea.

Related Posts

CFD Indices – Another New Record High For Dow Despite Trade Resolution Doubt

Shueh Ting Wong

Market News

  • Wall Street extended their gains last night as investors waited for concrete progress on U.S.-China trade negotiations after the mixed headlines. Dow Jones rose 31 points, S&P 500 closed 1 point higher and Nasdaq Composite was up 9 points.
  • Early on Monday, a CNBC report cast fresh doubts on the prospects for phase one of a U.S.-China trade deal, saying the mood in Beijing was pessimistic due to Trump’s reluctance to roll back tariffs on Chinese imports.
  • U.S. Commerce Department has given the blacklist China Tech giant Huawei a 90-day license extensions, which allowed it to purchase some American-made goods. This was seen as a goodwill gesture from the US side.

Market Views

  • Asian shares were mixed on Tuesday morning as investors continue to await clearer news on the progress of Sino-U.S. trade talks. Hang Seng climbed 218 points while Nikkei 225 index fell 32 points.
  • Minutes from RBA monetary policy meeting in Oct published on Tuesday showed The RBA decided to hold steady, in part because of worries that further easing would harm savers and confidence. RBA “agreed a case could be made” for another cut at its November meeting given unwelcome weakness in wages growth and inflation.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 28,054
Target price:
Protective stop:

Outlook
The index made a new historical high again at 28,089 last night. Price has been moving higher after breaking above the triangle pattern. This index is strong and bullish as it is trading along the rising 10EMA, which is providing a layer of support. As long as price moves along with the 10EMA, there is a chance for price to move towards the next target at 28,500. MACD is rising and bullish at the moment. Stochastic is in the overbought extreme but is still strong at the moment.

Trading Idea

Wait for better trading idea.

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 26,954
Target price:
Protective stop:

Outlook
Price reached the Fibonacci 50% retracement point at 26,192, and has bounced up strongly. Price is now testing the overhead 20EMA and gap resistance at 26,903-26,967. The index needs to move above this level to advance higher. A failure move above this level is likely to bring price lower to test its low again at 25,540. Stochastic is moving towards its oversold extreme. MACD is still bullish at the moment.

Trading Idea

Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 8336
Target price :
Protective stop: 8320 Triggered

Outlook
The index made a new all-time high of 8357 last night and has remained in a rising channel and above the breakout level since end-August. As long as price moves along with the rising 10EMA and within the channel, price could be moving higher towards the next resistance at 8492. The index will only turn bearish if it moves below the channel or the 10EMA. Stochastic is in its overbought extreme and MACD is still bullish.

Trading Idea
Wait for better trading idea

Australian 200 Index
(CFD Symbol: AUS200)
Trend :
Recommendation :
Last : 6837
 Target price:
Protective stop :

Outlook
Price was resisted for the fifth time at its recent high resistance that ranged from 6834 to 6848. The 50EMA is rising and is providing a layer of support. Price will need to break above 6848 for a test of its all-time high at 6933. If price cannot break above, we could see price ranging within the resistance range and the 50EMA. The Stochastic could be turning down. MACD is still bullish with both lines are above zero line.

Trading Idea

Wait for better trading idea.

Related Posts