Tag: US500

Market News

• U.S. stocks closed lower for a fourth consecutive session on Thursday as economic data did little to alter expectations the Federal Reserve would continue raising interest rates for longer than previously thought.
  
• Economic data on Thursday showed a labour market that continues to stay strong, although a separate report showed growth in the services sector slowed in October, keeping the Fed on its aggressive interest rate hike path.
  
• The monthly U.S. employment report is scheduled to be released later. Economists expect 205,000 jobs were added in October, and forecast the unemployment rate remained at 3.5%, according to Dow Jones.
  

Market Views

• Asian markets were mixed on Friday morning as markets continued to process the U.S. Federal Reserve’s 75 basis point interest rate hike. Hang Seng index surged 884 points while Nikkei 225 index dropped 550 points.
  
• Inflation in Turkey rose 85.5% year-on-year in October for the 17th consecutive month as food and energy prices continued to climb, resulting in dramatic rise in living costs for the country of 85 million has continued unabated for nearly two years.

Dow Jones Index

(CFD Symbol: US30)

Trend:

Recommendation:

Last: 31,975

Target price:

Protective stop:

Outlook
The chart outlook of this index has turned bullish as price is trading above the 20EMA. Price is retracing currently and we are likely to see the correction to halt at the 20EMA support at 31,470. Stochastic is still bullish and MACD remains bullish too.

Trading Idea
Buy 31,500 with a stop below 30,850 for 32,850.

Hang Seng Index

(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 16,170

Target price:

Protective stop:

Outlook
Price formed a temporary bottom at 14,577. A morning star candlestick pattern was formed on 1 Nov. It is testing the 20EMA and the next resistance lies at 16,800. Stochastic is rising and MACD has a bullish crossover as well.

Trading Idea.
Wait for better trading idea.

Nasdaq 100 Index

(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 11,150

Last: 10,706

Target price: 11,850

Protective stop: 10,750 Triggered

Outlook
Price broke below the rising channel last night. It violated the 20EMA support as well. We are likely to see price falling to 3559 if it unable to move back inside the rising channel. Stochastic is falling and there is a bearish MACD crossover.

Trading Idea
Buy 11,150 with a stop below 10,750 for 11,850. Order was filled on 19 Oct. Stop was triggered on 3 Nov.

S&P 500 Index

(CFD Symbol: US500)

Trend:

Recommendation:

Last: 3719

Target price:

Protective stop:

Outlook
Price broke below the rising channel last night. It violated the 20EMA support as well. We are likely to see price falling to 3559 if it unable to move back inside the rising channel. Stochastic is falling and there is a bearish MACD crossover.

Trading Idea
Wait for better trading idea.

Market News

• U.S. stocks closed lower for a second straight session on Tuesday after data indicating that the labour market remained on solid ground and dimmed hopes that Fed might have enough reason to begin reducing the size of its interest rate hikes.
  
• The sharp focus on labour market data overshadowed another report which showed U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in October as rising rates cool demand for goods and pricing pressures on manufacturers lessened.
  
• The barrage of missiles included one ballistic missile that landed in the free waters on South Korea’s side of the Northern Limit Line, a de facto sea border that separates the two Koreas — the first instance since the Korean War, authorities said

Market Views

• Shares in the Asia-Pacific were mixed on Wednesday morning as investors brace for another likely 75-basis-point rate hike by the Federal Reserve. Hang Seng index jumped 298 points while Nikkei 225 index fell 25 points.
  
• Policy board members at the Bank of Japan’s latest meeting agreed that it is appropriate to “persistently continue with its large-scale monetary easing,” according to minutes released Wednesday. The BOJ’s monetary policy targets price stability not foreign exchange rates, said few members.

Dow Jones Index

(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,069

Target price:

Protective stop:

Outlook
The chart outlook of this index has turned bullish and we have seen price deviating far above the 20EMA. This is a sign of strong uptrend and we could see price retracing to 20EMA at 31,400 before the next rally. The next resistance lies at 33,415. Stochastic is at the overbought zone and MACD is bullish.

Trading Idea
Wait for better trading idea.

Hang Seng Index

(CFD Symbol: HK50)

Trend:

Recommendation: Long @ 15,400

Last: 15,692

Target price: 16,600

Protective stop: 14,950 Triggered

Outlook
Price could have formed a temporary bottom at 14,577. A morning star candlestick pattern was formed yesterday and we are likely to see price testing the first resistance at 20EMA at 16,090. MACD is giving divergence warning and Stochastic is at the oversold zone.

Trading Idea.
Buy 15,400 for 16,600 with a stop below 14,950. Entry order was filled on 27 Oct. Stop was triggered on 31 Oct.

Nasdaq 100 Index

(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 11,150

Last: 11,327

Target price: 11,850

Protective stop: 10,750

Outlook
Price is resisted by the previous high resistance zone at 11,650. As long as price stay above the 20EMA support at 11,315, we see price rebounding to penetrate the resistance zone to move higher to 12,460. MACD is bullish at the moment.

Trading Idea
Buy 11,150 with a stop below 10,750 for 11,850. Order was filled on 19 Oct.

S&P 500 Index

(CFD Symbol: US500)

Trend:

Recommendation:

Last: 3862

Target price:

Protective stop:

Outlook
Price has been forming successive of higher highs and higher lows. The 20EMA is acting as support at 3787. The next resistance lies at 4000. Stochastic is strong and is at the overbought zone. MACD remains bullish at the moment.

Trading Idea
Wait for better trading idea.

Market News

• Both S&P 500 and the Nasdaq posted losses on Thursday, as investors contended with solid economic data and a mixed bag of corporate earnings, while Dow Jones held aloft by industrials to close 194 points higher.

• A third-quarter GDP reading showing the U.S. economy returned to growth in the July-Sept period, along with steady quarterly core inflation helped take the sting out of earnings.

• Investors continue to scan the economic horizon for evidence that the barrage of aggressive interest rate hikes from the Fed in the next FOMC meeting. While a 75 basis point rate hike at the conclusion of its Nov. 1-2 policy meeting is all but assured, the likelihood of a smaller, 50 basis point hike in December was 55%.

Market Views

• Asian markets fell as investors digested the Bank of Japan’s interest rate decision and a slew of companies in the region reporting earnings. Hang Seng index slid 285 points and Nikkei 225 index fell 97 points.

• Japan’s central bank left interest rates unchanged Friday, in line with predictions by economists in a Reuters poll. The Bank of Japan also said it would purchase necessary amounts of Japanese government bonds at a fixed rate in order to keep 10-year JGB yields at 0%.

Dow Jones Index

(CFD Symbol: US30)

Trend:

Recommendation:

Last: 32,069

Target price:

Protective stop:

Outlook
Price has been moving higher after breaking out from its previous high resistance level. It is currently testing the 32,280 resistance zone. We could see some pullback to 20EMA at 30,870 if price is resisted at this resistance zone. Stochastic is at the overbought zone.

Trading Idea
Wait for better trading idea.

Hang Seng Index

(CFD Symbol: HK50)

Trend:

Recommendation: Long @ 15,400

Last: 15,122

Target price: 16,600

Protective stop: 14,950

Outlook
Price could have formed a temporary bottom at 14,762. As long as this low holds, we could see this index slowly recovers to the 20EMA resistance point at 16,380. Stochastic is at the oversold region but MACD remains bearish.

Trading Idea.
Buy 15,400 for 16,600 with a stop below 14,950. Entry order was filled on 27 Oct.

Nasdaq 100 Index

(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 11,150

Last: 11,117

Target price: 11,850

Protective stop: 10,750

Outlook
The price rebound was resisted at its previous high resistance zone. A bearish Harami reversal candlestick pattern was formed at this zone. It is currently sitting at the Fibonacci 62% correction point and if this support holds, we are likely to see price rebounding to move higher again.

Trading Idea
Buy 11,150 with a stop below 10,750 for 11,850. Order was filled on 19 Oct.

S&P 500 Index

(CFD Symbol: US500)

Trend:

Recommendation:

Last: 3794

Target price:

Protective stop:

Outlook
Price has been forming successive of higher highs and higher lows. It managed to penetrate its recent price high resistance zone as well. It is currently sitting at the 20EMA support and if this support holds, we are likely to see price moving higher to 4000.

Trading Idea
Wait for better trading idea.

Market News

• All three major U.S. stock indexes advanced for the third straight session, with market-leading megacaps providing the most upside muscle on Tuesday as soft economic data hinted that the Fed’s aggressive policy is taking effect, while falling benchmark Treasury yields boosted the rally’s momentum.

• Microsoft and Alphabet delivered weaker than expected quarterly results, sending their shares down about 7%. A mixed brew of earnings and downbeat forecasts, usually a negative for markets, raising expectations that the central bank could pull back on the size of rate hikes after its Nov. 1-2 policy meeting.

• Data on Tuesday showed slowing home price growth and souring consumer confidence. Such signs of economic softness, ordinarily unsupportive of risk appetite, are evidence of abating Fed hawkishness.
  

Market Views

• Shares in the Asia-Pacific rose on Wednesday morning as sentiment overnight improved over the Fed potentially turning less aggressive. Hang Seng index rebounded 333 points and Nikkei 225 index gained 289 points.

• The Bank of Japan increased the amount of Japanese government bonds it plans to buy as part of the day’s regular operations. The central bank offered to purchase 150 billion yen of JGBs with a maturity of more than 25 years, up from the planned 100 billion yen.

Dow Jones Index

(CFD Symbol: US30)

Trend:

Recommendation:

Last: 31,772

Target price:

Protective stop:

Outlook
Price rebounded from the 20EMA support. It has turned the outlook from bearish to bullish after forming higher highs and higher lows. We are likely to see price testing 32,285 in the coming few days. Stochastic is rising and MACD has turned bullish.

Trading Idea
Wait for better trading idea.

Hang Seng Index

(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 15,477

Target price:

Protective stop:

Outlook
Price could have formed a temporary bottom at 14,762. As long as this low holds, we could see this index slowly recovered to the 20EMA resistance point at 16,610. Stochastic is at the oversold region but MACD remains bearish.

Trading Idea.
Buy 15,400 for 16,600 with a stop below 14,950.

Nasdaq 100 Index

(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 11,150

Last: 11,445

Target price: 11,850

Protective stop: 10,750

Outlook
Price rebounded strongly with a bullish candle after testing a low at 10,431. It has moved above the rising 20EMA and is going test its previous high resistance point. Once this resistance is penetrated, we see price moving higher to 12,430. Stochastic is rising and MACD has turned bullish.

Trading Idea
Buy 11,150 with a stop below 10,750 for 11,850. Order was filled on 19 Oct.

S&P 500 Index

(CFD Symbol: US500)

Trend:

Recommendation:

Last: 3824

Target price:

Protective stop:

Outlook
Price rebounded strongly after the intraday violation of its previous low support. It has moved above its previous resistance point and the 20EMA, forming successive higher highs and higher lows. We are likely to see price testing 4000. Stochastic is rising and MACD is bullish.

Trading Idea
Wait for better trading idea.

Market News

• U.S. stocks fell on Thursday as data on the labour market and comments from Fed official reinforced expectations the central bank will be aggressive in hiking interest rates outweighed a flurry of solid corporate earnings.

• The sales of existing homes fell for an eight straight month, while another reading showed factory activity in the Fed Bank of Philadelphia’s district contracted again in October. U.S. central bank is widely expected to announce a fourth straight 75 basis-point hike at its November meeting, with an outside chance of a full percentage point increase.

• South Korea’s trade deficit for the first 20 days of October widened to $4.95 billion, data from the customs agency showed, after recording a deficit of $4.1 billion for the same period in September. Exports for Oct.1.-20 dropped 5.5% compared to a year ago, less than the 8.7% drop in September from the same period in 2021.

Market Views

• Shares in the Asia-Pacific mostly traded lower on Friday morning as investors await inflation data from several economies. Hang Seng index was down 6 points while Nikkei 225 index slipped 55 points.

• Japan’s core consumer prices for the month of September rose 3% compared to a year ago, in line with analyst expectations and a slight increase compared to August’s 2.8% rise, while Hong Kong and Malaysia are slated to release its inflation data later in the day.

Dow Jones Index

(CFD Symbol: US30)

Trend:

Recommendation:

Last: 30,314

Target price:

Protective stop:

Outlook
Price rebounded strongly from its previous low support zone. It has moved above the 20EMA which is now acting as first layer of support at 30,120. As long as price stays above the 20EMA, we see price moving higher to 31,580. Stochastic is rising and MACD has turned bullish.

Trading Idea
Wait for better trading idea

Hang Seng Index

(CFD Symbol: HK50)

Trend:

Recommendation:

Last: 16,218

Target price:

Protective stop:

Outlook
Price could have formed a temporary bottom at 15,979. There is potential divergence warning given from both Stochastic and MACD. We could see price testing the 20EMA at 17,085. Stochastic is at the oversold zone.

Trading Idea.
Wait for better trading idea

Nasdaq 100 Index

(CFD Symbol: USTec)

Trend:

Recommendation: Long @ 11,150

Last: 10,984

Target price: 11,850

Protective stop: 10,750

Outlook
Price rebounded strongly with a bullish candle after testing a low at 10,431. There is potential divergence warning given from MACD. It is capped by the 20EMA but as long as price stays above 10,790, we see price rebounding to move higher again. Stochastic is rising.

Trading Idea
Buy 11,150 with a stop below 10,750 for 11,850. Order was filled on 19 Oct.

S&P 500 Index

(CFD Symbol: US500)

Trend:

Recommendation:

Last: 3655

Target price:

Protective stop:

Outlook
Price rebounded strongly after the intraday violation of its previous low support. It is capped by the 20EMA but as long as price stays above 3595, we are likely to see price moving higher again. Stochastic is rising and there is divergence warning given from MACD.

Trading Idea
Wait for better trading idea.