Tag: HK50

Market News

• U.S. stocks were higher after the close on Tuesday, as gains in the Technology, Financials and Consumer Goods sectors led shares higher. Dow Jones rose 126 points, S&P 500 was up 25 points and Nasdaq Composite surged 122 points.
  
• The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline.
  
• Australia’s government announced its annual budget late Tuesday, with measures aimed at easing cost of living, building more homes, and strengthening its healthcare system. The government forecast a second surplus in 2023–24, which would be the first time a government has delivered back‑to‑back surpluses in nearly two decades.

Market Views

• Asia-Pacific markets were mixed on Wednesday morning, tracking Wall Street gains overnight that saw the Nasdaq hit a fresh record closing high despite strong inflation data. Hang Seng index fell 41 points while Nikkei 225 index rose 44 points.
  
• The Federal Reserve is unlikely to cut rates this year, according to Verdence Capital Advisors’ Chief Investment Officer Megan Horneman. She believes the U.S. central bank will be forced to keep rates on hold for the remainder of the year as inflation persists.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 39,569

Target price:

Protective stop:

Outlook
Price managed to stay above the resistance-turned-support zone at 39,400. The rising 20EMA is also acting as support. MACD remains bullish and Stochastic is rising. We are likely to see price moving higher to 39,940 if it stay above 39,400.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 19,071

Target price:

Protective stop:

Outlook
Price has been moving higher after rebounding from 18,250 support zone. It has further penetrated 18,900 resistance zone. As long as it stay above 18,900, we see price continuing to move higher. MACD remains bullish and Stochastic is at the overbought zone.

Trading Idea
Buy 19,030 for 19,780 with a stop below 18,770

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @ 18,130

Last: 18,317

Target price: 17,890

Protective stop: 18,190 triggered

Outlook
Price was capped by 18,160 resistance zone. It has to penetrate this resistance for more upside, else, we could see price retracing to 17,900 zone. Stochastic is relatively weak and there is potential divergence warning given from MACD.

Trading Idea
Sell 18,130 for 17,890 with a stop above 18,190. Entry and stop were filled on 10 May

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,781

Target price:

Protective stop:

Outlook
Price has been moving higher since 2 May. The 20EMA is rising and is acting as support. MACD remains bullish and a bullish crossover is likely. Stochastic is rising too. We could see price moving higher as long as price stay above the 20EMA.

Trading Idea
Wait for better trading idea

Market News

• Wall Street indexes rose on Thursday, with the Dow clocking a seventh straight day of gains as a bigger-than-expected increase in weekly unemployment claims furthered expectations of a cooling labor market.
  
• U.S. Federal Reserve policy has been the main driver of investor sentiment in 2024. Renewed hopes the central bank will cut rates have pushed the Dow to its biggest rally since December. It closed at its highest since April 1.
  
• The number of Americans filing new claims for unemployment benefits increased more than expected to a seasonally adjusted 231,000 last week, data showed. Economists polled by Reuters had forecast 215,000 claims.

Market Views

• Asia-Pacific stocks tracked Wall Street gains on Friday morning as renewed rate cut hopes by the U.S. Federal Reserve bolstered market sentiment. Hang Seng index rose 142 points and Nikkei 225 index advanced 290 points.
  
• Japan’s household spending in March declined less than expected at 1.2% in real terms from a year earlier, compared with a 2.4% drop estimated by economists polled by Reuters.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 39,435

Target price:

Protective stop:

Outlook
Price has been moving higher to 39,460 resistance zone. As price is deviating from the 20EMA, we could see price retracing to the 20EMA at 39,045 before next rally. Stochastic remains strong and MACD is still bullish.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 18,752

Target price:

Protective stop:

Outlook
Price rebounded from the resistance-turned-support zone at 18,250. It has to penetrate 18,850 for more upside ahead. Stochastic remains strong and bullish at the overbought zone. MACD remains bullish too.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 18,131

Target price:

Protective stop:

Outlook
Price was capped by 18,160 resistance zone. It has to penetrate this resistance for more upside, else, we could see price retracing to 17,900 zone. Stochastic is relatively weak and there is potential divergence warning given from MACD.

Trading Idea
Sell 18,130 for 17,890 with a stop above 18,190

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation: Long @ 18,440

Last: 18,720

Target price: 18,540 filled

Protective stop: 18,390

Outlook
Price has been moving higher since 2 May. The 20EMA is rising and is acting as support. MACD remains bullish and Stochastic is bullish too. We could see price retrace to the 20EMA at 18,495 before next rally.

Trading Idea
Buy 18,440 for 18,540 with a stop below 18,390.

Market News

• S&P 500 and Dow Jones both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.
  
• Traders are anticipating rate cuts of 46 basis points (bps) from the Fed by the end of 2024, according to LSEG’s interest rate probabilities app, with the first pivot to rate cut seen in September and another in December. They were expecting only one cut before the labor report last week.
  
• Minneapolis Fed President Neel Kashkari said sticky inflation could keep interest rates unchanged for the rest of the year, even as markets began pricing in a greater chance of a September rate cut following weaker-than-expected nonfarm payrolls data.

Market Views

• Asian stocks were lower on Wednesday morning as a rebound in Chinese markets paused for breath, while comments from some Fed officials sparked questions over the timing of potential U.S. interest rate cuts. Hang Seng index fell 69 points and Nikkei 225 index slipped 667 points.
  
• Optimism over improving economic conditions in China- amid persistent stimulus measures and easing restrictions on investment- had driven the recent stock rally. Bargain buying also factored into these gains, after Chinese stock benchmarks hit over five-year lows in late-January.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation: Short @ 38,520

Last: 38,859

Target price: 38,170

Protective stop: 39,570 triggered

Outlook
Price broke out the resistance zone with bullish candle last Friday. It appears to be resisted by 39,980 resistance zone. We could see price retrace to 38,580 support zone before next directional movement. Stochastic is falling and MACD remains bullish.

Trading Idea
Sell 38,520 for 38,170 with a stop above 39,570. Entry and stop orders were filled on 3 May

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 18,415

Target price:

Protective stop:

Outlook
Price has been rising consecutively since 18 Apr. It could retrace to the 20EMA at 17,560 before next rally. Stochastic is at the overbought zone and MACD remains strong and bullish.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @ 17,610

Last: 18,090

Target price: 17,450

Protective stop: 17,700 triggered

Outlook
Price was capped by 18,160 resistance zone. A doji candlestick was formed yesterday. Stochastic remains strong at the overbought zone and MACD remains bullish. We are likely to see price penetrate this resistance zone for more upside.

Trading Idea
Sell 17,610 for 17,450 with a stop above 17,700. Entry and stop orders were filled on 3 May

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 18,432

Target price:

Protective stop:

Outlook
Price broke and closed above 18,400 resistance zone. The 20EMA is rising, hinting at the bullish price trend. Stochastic remains strong at the overbought zone. MACD is still bullish. We could see price rebounding from 18,400 to move higher.

Trading Idea
Buy 18,440 for 18,540 with a stop below 18,390

Market News

• U.S. stocks closed with solid gains on Thursday after the Federal Reserve indicated it was leaning toward a dovish stance, while the dollar retreated against the yen after another suspected round of intervention by the Bank of Japan.
  
• Fed Chair Jerome Powell said that while recent inflation readings mean it will likely take longer than expected for central bank officials to become comfortable that inflation will resume its decline, interest rate increases also remained unlikely.
  
• U.S. economic data also showed the labor market remains tight, ahead of key government payrolls data due on Friday, while other data indicated worker productivity was subdued in the first quarter.

Market Views

• Asian stocks were mixed on Friday morning, supported by technology shares as positive earnings from Apple supported sentiment, although regional market holidays and anticipation of key U.S. data kept gains in check. Hang Seng index roses 252 points while Nikkei 225 index dropped 37 points.
  
• Demand for power and data centers has been taking the world by storm, and its not just the U.S. tech giants that are set to benefit, according to Goldman Sachs.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 38,460

Target price:

Protective stop:

Outlook
Price was capped by its previous price high resistance zone for a third time. A shooting star was formed after being rejected by this resistance zone. Stochastic is at the overbought zone. We are likely to see price moving lower to its lower support zone.

Trading Idea
Sell 38,520 for 38,170 with a stop above 39,570

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 18,460

Target price:

Protective stop:

Outlook
Price has been moving higher after breaking out from the sideway consolidation zone. The 20EMA is strong and bullish, hinting at more upside ahead. MACD remains bullish and Stochastic is at the overbought zone.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 17,608

Target price:

Protective stop:

Outlook
Price was capped by its previous price high resistance zone. We are likely to see price moving lower towards its support zone. Stochastic is at the overbought zone and there is a bearish MACD crossover.

Trading Idea
Sell 17,610 for 17,450 with a stop above 17,700

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 17,989

Target price:

Protective stop:

Outlook
Price has been moving within the range between 17,770 and 18,830. Stochastic is rising from the oversold zone but MACD remains bearish. We are likely to see price moving lower to 17,770.

Trading Idea
Wait for better trading idea

Market News

• Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.
  
• Data on Thursday showed that the U.S. economy grew at its slowest pace in nearly two years in the first quarter while inflation accelerated, dampening hopes that the Federal Reserve would begin cutting interest rates this year.
  
• Shares of Alphabet and Microsoft were advancing in extended hours trading after both companies reported quarterly results that beat Wall Street estimates. Intel forecast second-quarter revenue and profit below market estimates, sending its shares down 8% in extended hours trading.

Market Views

• Asia Pacific stocks rose on Friday, buoyed by gains in the technology sector as investors cheered strong earnings from Microsoft and Alphabet, although anticipation of more cues on interest rates kept sentiment in check. Hang Seng index rose 343 points and Nikkei 225 index gained 265 points.
  
• Softer-than-expected consumer price index inflation data from Tokyo further added to the uncertainty. The BOJ kept its benchmark policy rate at 0%-0.1% as expected. Japan’s central bank also said it will continue to conduct bond purchases in line with the March decision.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation: Short @ 38,550

Last: 38,136

Target price: 38,320 filled

Protective stop: 38,600

Outlook
Price rebounded from its daily Fibonacci 62% correction point. The chart outlook remains bearish unless it penetrates above 38,260. Stochastic is rising and MACD has turned bullish.

Trading Idea
Sell 38,550 for 38,320 with a stop above 38,600. Entry and profit orders were filled on 24 Apr

Hang Seng Index
(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 17,609

Target price:

Protective stop:

Outlook
Price broke out its sideway consolidation zone, hinting at the increased upward momentum. The 20EMA is rising, hinting at more upside ahead. MACD is bullish and Stochastic is rising. These could increase chances of the stock price moving higher.

Trading Idea
Buy 17,170 for 18,150 with a stop below 17,030

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 17,635

Target price:

Protective stop:

Outlook
Price is currently trading at its previous high resistance zone. We are likely to see price penetrating this zone to move higher to 17,780. Stochastic is rising and MACD remains bullish.

Trading Idea
Wait for better trading idea

DAX Index
(CFD Symbol: GER40)

Trend:

Recommendation:

Last: 17,993

Target price:

Protective stop:

Outlook
Price was capped by its previous price high resistance zone. It could be forming a potential bearish flag pattern, hinting at more downside ahead once breakout. Stochastic has a bearish crossover but MACD remains bullish.

Trading Idea
Wait for better trading idea