. Daily Index Analysis - Asia-Europe markets, Nasdaq, corporate news analysis.

Daily Index Analysis – Asia-Europe markets, Nasdaq, corporate news analysis.

Daily Index Analysis – Asia-Europe markets, Nasdaq, corporate news analysis.

09 Apr 2024

Introduction:

In the Asian indices market, stocks predominantly rebounded, recouping part of last week’s losses. The Shanghai composite edged up by 0.05%, while Singapore’s MSCI climbed by 0.60%. However, South Korea’s Kospi saw a slight decline of 0.46%. European markets experienced a downturn amid anticipation of U.S. inflation data. Meanwhile, on Wall Street, stocks remained stable as investors awaited Consumer Price Index (CPI) data and earnings announcements.

Market In Focus for today – Nasdaq 100

The NASDAQ 100 continues to see a lot of back-and-forth momentum.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18307.04 | Positive Crossover | Bullish
  • MA 20: 18333.19 | Negative Crossover | Bearish
  • MA 50: 18341.00 | Negative Crossover | Bearish

Simple:

  • MA 5: 18252.15 | Positive Crossover | Bullish
  • MA 20: 18331.01| Negative Crossover | Bearish
  • MA 50: 18419.71 | Negative Crossover | Bearish

RSI (Relative Strength Index): 48.73| Buy Zone| Bullish

Stochastic Oscillator: 58.08| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 18363.66 | R2: 18661.25
  • S1: 18071.57| S2: 17823.57

Overall Sentiment: Neutral | Market Direction: Sell

Trade Suggestion: Stop Sell: 18286.50 | Take Profit: 18071.57| Stop Loss: 18446.32.

S&P 500:

The S&P index remained relatively stable as another increase in Treasury yields restrained investors from making significant decisions ahead of crucial U.S. inflation data.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5255.55 | Positive Crossover | Bullish
  • MA 20: 5259.71 | Positive Crossover | Bullish
  • MA 50: 5251.51 | Positive Crossover | Bullish

Simple:

  • MA 5: 5241.89 | Positive Crossover | Bullish
  • MA 20: 5259.32| Positive Crossover | Bullish
  • MA 50: 5275.00 | Negative Crossover | Bearish

RSI (Relative Strength Index): 51.3| Buy Zone| Positive

Stochastic Oscillator: 68.34| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 5270.34 | R2: 5334.81
  • S1: 5148.77| S2: 5044.51

Overall Sentiment: Neutral | Market Direction: Sell

Trade Suggestion:  Limit Sell : 5254.02 | Take Profit: 5191.02| Stop Loss: 5300.90.

FTSE 100:

FTSE 100 experiences a decline amid concerns over U.S. inflation.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7950.49 | Positive Crossover | Bullish
  • MA 20: 7941.53 | Positive Crossover | Bullish
  • MA 50: 7888.42 | Positive Crossover | Bullish

Simple:

  • MA 5: 7941.23 | Positive Crossover | Bullish
  • MA 20: 7952.04| Positive Crossover | Bullish
  • MA 50: 7883.63 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.07| Bullish Zone| Positive

Stochastic Oscillator: 62.32| Buy Zone | Bullish

Resistance And Support Levels:

  • R1: 7970.9 | R2: 8004.6
  • S1: 7803.0| S2: 7705.0

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Limit Buy : 7953.1 | Take Profit: 8019.7| Stop Loss: 7912.6.

Euro Stoxx 50:

On Tuesday, European markets registered declines as investors anticipated upcoming key economic data, particularly the release of U.S. inflation figures scheduled for Wednesday.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5050.84 | Negative Crossover | Bearish
  • MA 20: 5056.64 | Negative Crossover | Bearish
  • MA 50: 5037.66 | Positive Crossover | Bullish

Simple:

  • MA 5: 5043.03 | Negative Crossover | Bearish
  • MA 20: 5067.77 | Negative Crossover | Bearish
  • MA 50: 5052.28 | Positive Crossover | Bullish

RSI (Relative Strength Index): 46.55| Neutral Zone| Neutral

Stochastic Oscillator: 50.42| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 5065 | R2: 5140
  • S1: 5001| S2: 4035

Overall Sentiment: Neutral | Market Direction: Sell

Trade Suggestion:  Limit Sell : 5071 | Take Profit: 5001| Stop Loss: 5116.

Elsewhere in the Indices Market

On Tuesday, most Asian stocks made gains, recovering a portion of the losses experienced last week.

The Shanghai composite is up at 0.05%. Overall, the Singapore MSCI up 0.60% to 294.57. Over in Hong Kong, the Hang Seng Index up 0.61% to 16,834.84. In Japan, the Nikkei 225 up 1.08% to 39,773.13, while the Topix index was up 0.97% to 2754.69. South Korea’s Kospi down 0.46% to 2,705.16. Australia S&P/ASX 200 up 0.45% to, 7,824.20.

European markets are in decline as investors focus on upcoming U.S. inflation data.

The DAX futures contract in Germany traded 0.46 lower, CAC 40 futures in France down 0.34% to 8,091.69 and the UK 100 futures contract in the U.K. up 0.12% to 7,953.10.

Wall Street mostly flat as investors await Consumer Price Index (CPI) data and earnings reports.

U.S. stocks remained largely unchanged at the end of a volatile session on Monday, as attention was diverted by a solar eclipse, just before the release of significant inflation data and the start of the first-quarter earnings season.

Indexes: Dow down 0.03%, S&P 500- down 0.4%, Nasdaq up 0.3%.

Corporate News:

Netflix, Inc. (NFLX) down 1.22% at 628.41, Tesla, Inc (TSLA) up 4.90% at 172.98, Apple Inc. (AAPL) down 0.67% at 168.45. Goldman Sachs Group Inc (GS) up 0.61% at 410.54, Morgan Stanley (MS) up 0.80% at 93.21.

Key Economic Events & Data Release Today:

(NZD) NZIER Business Confidence (Q1)  Previous -2.0% at 03:30.

(GBP) BRS Retail Sales Monitor (YoY) (Mar) Forecast 1.8%, Previous 1.0% at 04:31.

(USD) EIA Short –Term Energy Outlook at 21:30.