. Daily Index Analysis - Deciphering S&P 500, Wall Street Whispers, Inflation, Fed's Dilemma.

Daily Index Analysis – Deciphering S&P 500, Wall Street Whispers, Inflation, Fed’s Dilemma.

Daily Index Analysis – Deciphering S&P 500, Wall Street Whispers, Inflation, Fed’s Dilemma.

14 Nov 2023

Introduction:

In the Indices Market, Asian markets rose after a robust Wall Street rally, with gains in Shanghai and Nikkei. European shares show a modest uptick in anticipation of U.S. inflation data. On Wall Street, a slight dip follows a previous rally as investors focus on forthcoming inflation insights from the U.S. Federal Reserve.

Market In Focus for today – S&P 500

The S&P 500 concluded Monday’s session with a minor decline, as investors anxiously awaited a pivotal inflation reading that might offer insights into the potential duration of the U.S. Federal Reserve’s decision to maintain elevated interest rates.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4420.20 | Positive Crossover | Bullish
  • MA 20: 4385.85 | Positive Crossover | Bullish
  • MA 50: 4344.60 | Positive Crossover | Bullish

Simple:

  • MA 5: 4421.27 | Positive Crossover | Bullish
  • MA 20: 4396.09| Positive Crossover | Bullish
  • MA 50: 4298.87 | Positive Crossover | Bullish

RSI (Relative Strength Index): 66.52| Buy Zone| Bullish

Stochastic Oscillator: 57.37 | Buy Zone | Positive

Resistance And Support Levels:

  • R1: 4434.37 | R2: 4564.66
  • S1: 4350.48| S2: 4255.88

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 4475.42 | Take Profit: 4564.66| Stop Loss: 4420.09.

Elsewhere in the Indices Market

Asian market trade higher following strong rally on Wall Street.

The Shanghai composite is up at 0.31%. Overall, the Singapore MSCI down 0.69% to 277.85. Over in Hong Kong, the Hang Seng Index down 0.17% to 17,396.86. In Japan, the Nikkei 225 up 0.34% to 32,695.93, while the Topix index was up 0.37% to 2,345.29. South Korea’s Kospi up 1.23% to 2,433.25. Australia S&P/ASX 200 up 0.83% to, 7,006.70.

European shares inch higher ahead of US inflation data.

The DAX futures contract in Germany traded 0.25 higher, CAC 40 futures in France up 0.01% to 7,087.11 and the UK 100 futures contract in the U.K. down 0.38% to 7,397.64.

Wall St wavers after rally, focus on inflation data.

The US market concluded Monday’s session with a slight dip as investors awaited a pivotal inflation reading, seeking insights into the potential duration of elevated interest rates by the U.S. Federal Reserve.

Indexes: Dow up 0.16%, S&P 500- down 0.08%, Nasdaq down 0.22%.

Corporate News:

Amazon.com, Inc. (AMZN) down 0.68% at 142.59, Walt Disney Co (DIS) up 1.33% at 89.44, Apple Inc. (AAPL) down 0.86% at 184.80. Goldman Sachs Group Inc (GS) up 0.43% at 326.91, Morgan Stanley (MS) down 0.38% at 75.04.

Key Economic Events & Data Release Today:

(GBP) Average Earning Index+ Bonus (Sep) Actual 7.9%, Forecast 7.4%, Previous 8.1% at 12:30.

(EUR) GDP (YoY) (Q3) Forecast 0.1%, Previous 0.5% at 15:30

(USD) CPI (MoM) (Oct) Forecast 0.1%, Previous 0.4% at 19:00

(USD) CPI (YoY) (Oct) Forecast 3.3%, Previous 0.3% at 19:00

(USD) Core CPI (MoM) (Oct) Forecast 0.3%, Previous 0.3% at 19:00