Tag: GER40

Market News

• S&P 500 cut losses to close higher Tuesday, as a climb in tech helped offset weakness in energy and financials a day ahead of an important inflation report. Dow Jones slid 92 points while Nasdaq Composite gained 141 points.
  
• Focus was on the first debate between Vice President Kamala Harris and former President Donald Trump, who are set for a hotly contested 2024 presidential election. Futures deepened losses as Harris and Trump traded barbs during the debate.
  
• OPEC said now now expects demand to increase by roughly 2 million barrels per day this year, down from its prior projection of 2.1 million in August. It was the second consecutive month that the producer group has made a downward adjustment to the forecast.

Market Views

• Asia-Pacific markets slumped on Wednesday morning despite key Wall Street benchmarks rose ahead of the U.S. August consumer inflation report due Wednesday. Hang Seng index slid 242 points and Nikkei 225 index dropped 291 points.
  
• The Federal Trade Commission has warned Japanese retail company Seven & i that it may probe its potential deal with Canada’s Alimentation Couche-Tard, Reuters reported, citing two sources.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 40,589

Target price:

Protective stop:

Outlook
Price has been capped at 40,980 resistance zone for a third occasion. The 20EMA is falling, hinting at potential downside ahead. MACD has turned bearish and Stochastic is falling. We see price continuing to move lower if it stay below 40,730.

Trading Idea
Sell 40,730 for 40,260 with a stop above 40,800

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 16,955

Target price:

Protective stop:

Outlook
Price has been on a decline after creating a falling window on 9 September. The 20EMA is falling, hinting at more downside ahead. Stochastic is falling and MACD remains bearish. We could see price continuing to move lower.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 18,710

Target price:

Protective stop:

Outlook
The chart outlook of Nasdaq is bearish as price formed lower highs and lower lows. Price was capped by its support-turned-resistance zone, coinciding with the Fibonacci 62% correction point. We are likely to see price continuing to move lower.

Trading Idea
Sell 18,770 for 18,390 with a stop above 18,870

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,281

Target price:

Protective stop:

Outlook
Price has been on a decline after forming a price top at 18,997. The 20EMA is falling and is acting as resistance. MACD remains bearish and Stochastic is falling. We will see more downside if price break below its recent price low of 18,200.

Trading Idea
Wait for better trading idea

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

Market News

• Dow Jones notched a record high close on Thursday in mixed trading following robust U.S. economic data, while artificial intelligence chipmaker Nvidia dropped after its largely in-line forecast failed to impress investors.
  
• Gross domestic product data released on Thursday showed the U.S. economy grew more than initially estimated in the second quarter. Other data showed a slightly bigger than expected dip in jobless claims.
  
• Investor will focus on PCE price index data for July due today. The reading is expected to show a slight pick-up in inflation through the prior month, while inflation is also expected to remain largely above the Federal Reserve’s 2% annual target.

Market Views

• Asia-Pacific markets climbed on Friday morning after economic data from the U.S. calmed recessionary fears, while investors also assessed a slew of data from Japan. Hang Seng index rose 182 points and Nikkei 225 index advanced 222 points.
  
• Inflation rate in Japan’s capital city of Tokyo rose to 2.6% from June’s 2.2%, hitting its highest since March. The core inflation rate rose 2.4%, higher than the 2.2% expected from a Reuters poll of economists. Tokyo’s inflation is widely considered to be a leading indicator of nationwide trends.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 41,357

Target price:

Protective stop:

Outlook
Price broke out its previous price high resistance zone last night. It retested this zone, coinciding with the rising 20EMA support. Stochastic is rising and MACD remains bullish. Price could rebound from this zone to move higher.

Trading Idea
Buy now 41,357 for 41,560 with a stop below 41,270

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 18,037

Target price:

Protective stop:

Outlook
Price managed to rebound from the rising 20EMA support, keeping the uptrend intact. It further penetrated its recent price high. Stochastic and MACD remains strong and bullish. We could see price moving higher to its overhead resistance zone.

Trading Idea
Buy 17,300 for 18,310 with a stop below 17,840

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 19,398

Target price:

Protective stop:

Outlook
Price is currently moving within a range between 19,000 and 19,620. We have to wait for price to breakout either end for clearer direction. MACD remains bullish and Stochastic is rising.

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,905

Target price:

Protective stop:

Outlook
Price has tested its all time price high resistance level yesterday. It has to further penetrate this level for more upside, else, we will see a price correction as price deviates far away from its 20EMA. Stochastic and MACD are strong and bullish.

Trading Idea
Wait for better trading idea

Market News

• S&P 500 ended higher on Tuesday and the Dow Jones notched a record-high close ahead of a much-anticipated quarterly report from Nvidia on Wednesday and economic data expected later in the week that could give clues about the path of interest rate cuts.
  
• Data on Tuesday showed U.S. consumer confidence rose to a six-month high in August, while consumers also became more anxious about the labor market after the unemployment rate jumped to near a three-year high of 4.3% last month.
  
• Investors will look to July Personal Consumption Expenditure data due on Friday for additional hints at the potential pace of rate cuts, and betting on an interest rate cut of either 25 or 50 basis points in September.

Market Views

• Asian stocks were mixed on Wednesday with technology-heavy indexes falling in anticipation of earnings from market darling Nvidia, while Australian stocks sank on a sticky inflation print. Hang Seng index fell 194 points while Nikkei 225 index rose 33 points.
  
• China’s economic impact of the tariffs is expected to be negative, investors feared the onset of a renewed trade war between China and the west, given that the U.S. and the European Union had also enacted similar tariffs earlier this year.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation: Short @ 40,840

Last: 41,286

Target price: 40,600

Protective stop: 40,930 triggered

Outlook
Price managed to stay above the rising 20EMA support, keeping the uptrend intact. We could see price making new high if it able to penetrate and close above 41,132. Stochastic is turning up and MACD remains bullish.

Trading Idea
Sell 40,840 for 40,600 with a stop above 40,930. Entry and stop orders were filled on 23 Aug

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation: Long @ 17,360

Last: 17,672

Target price: 17,672 filled

Protective stop: 17,400

Outlook
Price has been moving higher after forming an inverted head and shoulder reversal pattern. The 20EMA is rising, suggesting the bullish price trend. MACD remains bullish and Stochastic is rising. Price has to further penetrate 17,900 for more upside.

Trading Idea
Buy 17,360 for 18,000 with a stop below 17,170. Entry was filled on 21 Aug. Close order with profit now.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @ 19,730

Last: 19,565

Target price: 19,500

Protective stop: 19,810 triggered

Outlook
Price could be forming a potential falling wedge chart pattern after being supported at its daily support zone. Let’s wait for a chart pattern breakout to confirm the continuation of the bullish price trend. Stochastic is rising but MACD has turned bearish.

Trading Idea
Sell 19,730 for 19,500 with a stop above 19,810. Entry and stop orders were filled on 23 Aug

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,719

Target price:

Protective stop:

Outlook
Price is trading near to its previous price high resistance zone. It has to further penetrate and close above this zone for further upside, else, a correction could be likely as price is far away from the 20EMA. Stochastic is at the overbought zone and MACD remains bullish.

Trading Idea
Wait for better trading idea