Tag: JP225

Market News

• Dow Jones jumped 366 points, notching a seventh straight positive session on Tuesday for its longest string of gains since March 2021, as gains in the Oil & Gas, Technology and Telecoms sectors led shares higher.

• Headline U.S. retail sales data came in below forecasts, but core sales which exclude food, fuel and building materials, rose a solid 0.6% in June and had economists lifting GDP forecasts. The numbers are not adjusted for inflation; the consumer price index rose 0.2% for the month, indicating that real sales were about flat.

• Dovish remarks from a European Central Bank policymaker boosted bonds and dragged the euro lower. Hotter-than-expected inflation lifted the New Zealand dollar a little and stoked some market nerves ahead of British CPI due later in the day.

Market Views

• Asian markets were mixed on Wednesday morning after data released overnight spurred increased bets that Fed was close to ending its current rate hike cycle, while Chinese markets continued to lag on a worsening economic outlook. Hang Seng index slipped 233 points while Nikkei 225 index rose 275 points.

• Chinese officials and local media reports said that the government will roll out more stimulus measures in the coming days, after data showed that China’s economy barely grew in the second quarter.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 34,960

Target price:

Protective stop:

Outlook
Price broke out from a pennant continuation pattern yesterday with a strong bullish candle. It penetrated its previous price high as well. We are likely to see price retracing to 34,640, before price resuming its next rally. Stochastic is at the overbought zone and MACD remains bullish.

Trading Idea
Buy 34,640 for 35,170 with a stop below 34,460

Nikkei 225 Index
(CFD Symbol: JP225)

Trend:

Recommendation:

Last: 32,766

Target price:

Protective stop:

Outlook
Price has moved above the 20EMA after rebounding from the low at 31,780. The key Fibonacci 62% resistance point is crucial at the moment. Price can retest its previous high if it able to surpass 33,040, else, we are likely to see price testing its low again. Stochastic is rising but MACD remains bearish.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 15,823

Target price:

Protective stop:

Outlook
This index is strong and bullish as price is trading far above the 20EMA support. It further penetrated its recent price high, suggesting the strong upward momentum. Stochastic is strong and bullish and MACD is bullish too.

Trading Idea.
Buy 15,710 for 16,000 with a stop below 15,550.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7455

Target price:

Protective stop:

Outlook
Price is currently consolidating within a rectangle consolidation zone. There is high chance that price could break out the rectangle and the 20EMA to move higher. Stochastic is rising and MACD is bullish.

Trading Idea
Buy 7395 for 7595 with a stop below 7370

Market News

• U.S. stocks extended recent gains to end higher on Thursday, with the Nasdaq rising more than 1% for a second straight day, as data showed the annual increase in U.S. producer inflation was the smallest in nearly three years.

• Wednesday’s CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years, supporting the view that Fed will stop hiking rates after an expected 25 basis points rate increase later this month.

• The International Monetary Fund said that growth in China is slowing due to weaker private investment as well as slowing exports and reduced domestic demand.

Market Views

• Asian stocks rose further on Friday morning, capping off a positive week on signs of cooling U.S. inflation, with focus now turning to upcoming data offering more cues on the Chinese economy. Hang Seng index gained 44 points and Nikkei 225 index advanced 179 points.

• A decision on China’s key Loan Prime Rate is also due next week, after the People’s Bank cut the rate for the first time in eight months in June. The move had provided limited relief to Chinese stocks, which are now trading negative for the year.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 34,333

Target price:

Protective stop:

Outlook
Price hit its previous price high resistance zone for a third occasion two days ago. It could be forming a potential triple top chart pattern. We could see price moving lower to the low at 33,600. Stochastic is rising but MACD could be forming potential divergence warning.

Trading Idea
Wait for better trading idea.

Nikkei 225 Index
(CFD Symbol: JP225)

Trend:

Recommendation:

Last: 32,535

Target price:

Protective stop:

Outlook
Price is currently testing its overhead 20EMA resistance point, coinciding with the Fibonacci 50% correction point. As long as price is capped by the 20EMA, we see price moving lower to 31,780. Stochastic is near to the oversold zone and MACD is bearish.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Short @ 15,180

Last: 15,578

Target price: 14,700

Protective stop: 15,300 filled

Outlook
Price penetrated its previous price high resistance zone and broke out from a triangle pattern two days ago. The rising 20EMA is acting as support. Stochastic is strong and bullish and MACD remains bullish too. We could see price testing 15,280 before its next rally.

Trading Idea.
Sell 15,180 for 14,700 with a stop above 15,300. Entry was filled on 5 July. Stop was filled on 12 July

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation: Long @ 7290

Last: 7425

Target price: 7420 filled

Protective stop: 7215

Outlook
Price is currently testing the 20EMA resistance point, coinciding with the Fibonacci 62% correction point and the support-turned-resistance zone. MACD remains bearish and Stochastic is weak. We are likely to see price moving lower again if it is capped by the 20EMA.

Trading Idea
Buy 7290 for 7420 with a stop below 7215. Entry was filled on 12 July. Profit was filled on 13 July

Market News

• A strong rebound by financials helped Wall Street’s main indexes close firmly positive on Thursday, after some of U.S. largest lenders confirmed they would deposit up to $30 billion into First Republic Bank’s coffers to stabilize the lender.

• The latest twist in the U.S. regional banks saga came on the heels of a 50 basis point rate hike by the European Central Bank, which earlier in the day had dampened investor sentiment already hurt by fears of a banking crisis.

• U.S. Treasury Secretary Yellen said the U.S. banking system remains sound and Americans can feel confident that their deposits will be there when needed. U.S.-listed shares of Credit Suisse advanced after the bank secured a credit line of up to $54 billion from the Swiss National Bank to shore up liquidity and investor confidence.

Market Views

• Asia-Pacific markets were higher on Friday morning after major Wall Street banks pledged a deposit of $30 billion in First Republic Bank in an attempt to bolster confidence in the banking system. Hang Seng index rose 364 points and Nikkei 225 index gained 206 points.

• The Japan Center for Economic Research said that the consensus forecast for the economy’s wage growth in 2023 was raised to 3.05% in March from an expected rise of 2.85% seen in January.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,167

Target price:

Protective stop:

Outlook
Price rebounded after reaching a temporary low at 31,147. We are likely to see this index testing the 20EMA at 32,690, which is also the support-turned-resistance zone. Stochastic is rising from the oversold zone but MACD remains bearish.

Trading Idea
Sell 32,500 with a stop above 32,800 for 31,600.

Nikkei 225 Index
(CFD Symbol: JP225)

Trend:

Recommendation:

Last: 27,216

Target price:

Protective stop:

Outlook
This index rebounded after reaching a temporary low at 26,458. Price is likely to test the 20EMA at 27,550, which is also near to the Fibonacci 50% correction point. Stochastic could be rising from oversold zone but MACD remains bearish.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 12,000

Last: 12,206

Target price: 12,500 Filled

Protective stop: 11,800

Outlook
Price rebounded after reaching its previous price low support zone. It moved above the 20EMA and we are likely to see price testing its previous price high resistance at 12,890. Stochastic is rising and MACD is bullish.

Trading Idea
Buy 12,000 for 12,500 with a stop below 11,800. Entry order was filled on 15 Mar. Profit order was filled on 16 Mar.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation:

Last: 7454

Target price:

Protective stop:

Outlook
This index rebounded after creating a temporary bottom at 7316. Price could move higher to the support-turned-resistance zone, which is also the Fibonacci 38% correction point. Stochastic is rising but MACD is bearish.

Trading Idea
Wait for better trading idea.

Market News

• U.S. three stock indexes closed over 1% higher on Tuesday as labour cost data encouraged investors about the Fed’s aggressive approach to taming inflation a day ahead of the central bank’s critical policy decision.

• U.S. labour costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed. The U.S. central bank is expected to hike the Fed funds rate by 25 basis points, continuing the year 2022 path in which the Fed aggressively boosted rates to control soaring inflation.

• Japan’s factory activity held steady at 48.9, below the 50-point mark separating growth from contraction, logging another contraction in January, marking a third straight month of contraction.

Market Views

• Asian markets were higher on Wednesday morning as investors looked ahead to the Fed’s Wednesday meeting, as well as some economic data in the region. Hang Seng index rose 97 points and Nikkei 225 index gained 48 points.

• China’s factory activity in January signaled a further contraction from previous readings, albeit at a slower pace, marking the sixth monthly contraction in a row. Both manufacturing supply and demand continued to shrink last month.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 34,005

Target price:

Protective stop:

Outlook
Price managed to stay above the 20EMA which is acting as support at the moment. The next resistance lies at 34,330. Stochastic remains weak. MACD is bullish but appears to have losing strength.

Trading Idea
Wait for better trading idea.

Nikkei 225 Index
(CFD Symbol: JP225)

Trend:

Recommendation:

Last: 27,339

Target price:

Protective stop:

Outlook
This index has reached its support-turned-resistance level. A price correction to the 20EMA at 26,910 is likely to follow if price is unable to surpass this resistance zone. Stochastic is at the overbought zone and a bearish MACD crossover is likely.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 12,043

Target price:

Protective stop:

Outlook
Price was capped by its previous price high resistance zone that capped price rally for the past fourth times. We could see a price decline if it is unable to surpass this resistance zone. Stochastic is at the overbought zone and a bearish crossover is likely.

Trading Idea
Sell 12,140 for 11,700 with a stop above 12,300.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation: Long @ 7720

Last: 7781

Target price: 7860

Protective stop: 7720

Outlook
Price is currently consolidating at the 20EMA support zone. As long as price stays above the 20EMA, the uptrend remains intact and we could see price testing its high again. Stochastic could be turning up and MACD remains bullish.

Trading Idea
Buy 7720 for 7860 with a stop below 7650. Entry level was filled on 25 Jan. Lifted stop to break-even at 7720 on 1 Feb.

Market News

• Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings, all while eyeing the clock as it ticks down toward next week’s Fed monetary policy meeting.

• A raft of data showed the U.S. economy fared better in the fourth quarter than analysts expected, and the labour market remains tight, despite some signs of weakening demand. This is a double-edged sword for investors, as it could embolden the Fed to keep key interest rates at restrictive levels for longer.

• The producer price index in Australia rose 5.8% for the final quarter of 2022 on an annualized basis, data from the Australian Bureau of Statistics showed. The reading was slightly lower than the previous quarter’s print of 6.4%, signal inflation may be easing in the nation.

Market Views

• Asian markets were higher on Friday morning as traders digested Tokyo’s core consumer prices that rose 4.3%, nearing the highest for Japan’s capital since mid-1981. Hang Seng index rose 14 points and Nikkei 225 index gained 18 points.

• Oil prices rose about 2% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data.

Dow Jones Index
(CFD Symbol: US30)

Trend:

Recommendation:

Last: 33,889

Target price:

Protective stop:

Outlook
Price managed to stay above the 20EMA which is acting as support at the moment. The next resistance lies at 34,330. Stochastic remains weak. MACD is bullish but appears to have losing strength.

Trading Idea
Wait for better trading idea.

Nikkei 225 Index
(CFD Symbol: JP225)

Trend:

Recommendation:

Last: 27,388

Target price:

Protective stop:

Outlook
This index has reached its support-turned-resistance level and if price can’t break through this level, we are likely to see a price correction to the 20EMA at 26,780. Stochastic is at the overbought zone. MACD remains bullish.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)

Trend:

Recommendation:

Last: 11,976

Target price:

Protective stop:

Outlook
Price rebounded after trading near to the 20EMA support. It could head higher to test the resistance zone at 12,120. Stochastic is at the overbought region. MACD remains bullish but there is potential divergence warning.

Trading Idea
Wait for better trading idea.

FTSE 100 Index
(CFD Symbol: UK100)

Trend:

Recommendation: Long @ 7720

Last: 7773

Target price:

Protective stop:

Outlook
Price broke out from a declining trendline today. We would like to see a firm close to confirm the breakout for a target of 7874. The 20EMA is acting as support currently. Stochastic is falling but MACD remains bullish.

Trading Idea
Buy 7720 for 7860 with a stop below 7650. Entry level was filled on 25 Jan.