. Daily Index Analysis - Nasdaq 100 Soars, FTSE 100 Surges Amid Global Market Trends

Daily Index Analysis – Nasdaq 100 Soars, FTSE 100 Surges Amid Global Market Trends

Daily Index Analysis – Nasdaq 100 Soars, FTSE 100 Surges Amid Global Market Trends

13 Dec 2023

Introduction:

In global indices, Asian markets exhibit a mixed trend ahead of the Federal Reserve’s interest rate decision. European stocks experience a slight uptick as the UK’s growth data falls short. Meanwhile, US stocks display a mixed performance post the release of inflation data in anticipation of the upcoming Federal Reserve meeting.

Market In Focus for today – Nasdaq 100

The Nasdaq 100 consolidates its gains and attains its highest point since January 2022 following a bullish breakout observed in the past few days.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 16328.94 | Positive Crossover | Bullish
  • MA 20: 16136.16 | Positive Crossover | Bullish
  • MA 50: 15984.38 | Positive Crossover | Bullish

Simple:

  • MA 5: 16333.32 | Positive Crossover | Bullish
  • MA 20: 16058.64| Positive Crossover | Bullish
  • MA 50: 16029.73 | Positive Crossover | Bullish

RSI (Relative Strength Index): 69.54| Buy Zone| Bullish

Stochastic Oscillator: 99.61|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 16412.81 | R2: 16767.95
  • S1: 16018.21| S2: 15710.43

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Buy Limit : 16026.10 | Take Profit: 16412.81| Stop Loss: 15781.45.

FTSE 100:

The FTSE 100 in the UK climbs as the pound weakens in response to GDP data, with attention focused on the upcoming Federal Reserve rate decision.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7566.23 | Positive Crossover | Bullish
  • MA 20: 7539.61 | Positive Crossover | Bullish
  • MA 50: 7507.56 | Positive Crossover | Bullish

Simple:

  • MA 5: 7567.20 | Positive Crossover | Bullish
  • MA 20: 7535.40| Positive Crossover | Bullish
  • MA 50: 7498.98 | Positive Crossover | Bullish

RSI (Relative Strength Index): 61.83| Buy Zone| Bullish

Stochastic Oscillator: 73.15|Buy Zone | Positive

Resistance And Support Levels:

  • R1: 7587.6 | R2: 7707.4
  • S1: 7511.5| S2: 7414.5

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Stop Buy : 7608.5 | Take Profit: 7707.4| Stop Loss: 7549.5.

S&P 500:

S&P 500 futures remain stable as investors closely watch inflation data and anticipate the upcoming Federal Reserve rate decision to determine the market’s direction.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4540.60| Positive Crossover | Bearish
  • MA 20: 4607.98 | Positive Crossover | Bullish
  • MA 50: 4568.14 | Positive Crossover | Bullish

Simple:

  • MA 5: 4640.17 | Positive Crossover | Bullish
  • MA 20: 4597.71| Positive Crossover | Bullish
  • MA 50: 4579.29 | Positive Crossover | Bullish

RSI (Relative Strength Index): 70.13| Buy Zone| Bullish

Stochastic Oscillator: 99.04|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 4703.28 | R2: 4803.31
  • S1: 4612.08| S2: 4529.70

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit : 4618.10 | Take Profit: 4705.10| Stop Loss: 4564.42.

DAX 40:

On Wednesday, European stock markets saw slight gains as investors processed subdued UK growth data in anticipation of the Federal Reserve’s final policy-setting meeting of the year.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 16914.81 | Positive Crossover | Bullish
  • MA 20: 16717.41 | Positive Crossover | Bullish
  • MA 50: 16402.86 | Positive Crossover | Bullish

Simple:

  • MA 5: 16891.02 | Positive Crossover | Bullish
  • MA 20: 16718.04| Positive Crossover | Bullish
  • MA 50: 16365.02 | Positive Crossover | Bullish

RSI (Relative Strength Index): 81.07| Buy Zone| Bullish

Stochastic Oscillator: 46.02|Buy Zone | Positive

Resistance And Support Levels:

  • R1: 17025.7 | R2: 17314.5
  • S1: 16679.2| S2: 16340.9

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit : 16704.0 | Take Profit: 17025.7| Stop Loss: 16472.9.

Elsewhere in the Indices Market:

Asian markets are mixed ahead of the Fed’s decision on interest rates.

The Shanghai composite is down at 1.15%. Overall, the Singapore MSCI up 0.08% to 274.32. Over in Hong Kong, the Hang Seng Index down 0.89% to 16,228.75. In Japan, the Nikkei 225 up 0.25% to 32,926.35, while the Topix index was up 0.075% to 2,354.92. South Korea’s Kospi down 0.97% to 2,535.27. Australia S&P/ASX 200 up 0.31% to, 7,257.80.

European stocks see a slight uptick as U.K. growth data falls short of expectations in anticipation of the upcoming Fed meeting.

The DAX futures contract in Germany traded 0.14 higher, CAC 40 futures in France up 0.32% to 7,567.52 and the UK 100 futures contract in the U.K. up 0.22% to 7,559.22.

US stocks mixed following the release of inflation data in anticipation of the upcoming Federal Reserve meeting.

Prior to the final monetary policy meeting of 2023 by the US Federal Reserve, American stocks showed a mixed opening on Tuesday following the unveiling of inflation data.

Indexes: Dow up 0.16%, S&P 500- up 0.46%, Nasdaq up 0.64%.

Corporate News:

Netflix, Inc. (NFLX) up 0.68% at 463.00, Tesla, Inc (TSLA) down 1.14% at 237.01, Apple Inc. (AAPL) up 0.79% at 194.71. Goldman Sachs Group Inc (GS) up 0.24% at 352.61, Morgan Stanley (MS) up 0.94% at 83.60.

Key Economic Events & Data Release Today:

(JPY) Tankan Large Manufactures Index (Q4) Actual 12, Forecast 10, Previous 9 at 05:20.

(GBP) GDP (MoM) (Oct) Actual –0.3%, Forecast 0.0%, Previous 0.2% at 12:30.

(GBP) Manufacturing Production (MoM) (Oct) Actual –1.1%, Forecast 0.0%, Previous 0.1% at 12:30.

(EUR) Industrial Production (MoM) (Oct) Forecast –0.3%, Previous –1.1% at 15:30.

(USD) PPI (MoM) (Nov) Forecast 0.0%, Previous –0.5% at 19:00.