. Daily Index Analysis-Examining Nasdaq 100's Performance

Daily Index Analysis-Examining Nasdaq 100’s Performance

Daily Index Analysis-Examining Nasdaq 100’s Performance

09 Oct 2023

Introduction:

Amidst mounting geopolitical tensions in the Middle East, Asian markets faced downward pressure, with the Shanghai composite down by 0.44% and the Singapore MSCI down by 0.90%. In Europe, stocks experienced their third consecutive weekly loss as yields surged, impacting the DAX, CAC 40, and UK 100 futures. Conversely, U.S. stocks rallied significantly, buoyed by positive jobs data and solid performance in the technology sector, highlighting the ongoing impact of economic factors on global indices.

Market In Focus for today – Nasdaq 100

Nasdaq 100 registered its biggest daily percentage gains since late August.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 14993.74 | Positive Crossover | Bullish
  • MA 20: 14992.21 | Positive Crossover | Bullish
  • MA 50: 14982.78 | Positive Crossover | Bullish

Simple:

  • MA 5: 14990.87 | Positive Crossover | Bullish
  • MA 20: 14898.76| Positive Crossover | Bullish
  • MA 50: 14966.54 | Positive Crossover | Bullish

RSI (Relative Strength Index): 52.96| Buy Zone | Bullish

Stochastic Oscillator: 79.77 | Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 15024.97 | R2: 15430.59
  • S1: 14691.45 | S2: 14375.96

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 15133.13 | Take Profit: 15430.59 | Stop Loss: 14925.81.


Elsewhere in the Indices Market

Asian markets trade lower amid geopolitical crisis in the Middle East.

The Shanghai composite is down at 0.44%. Overall, the Singapore MSCI down 0.90% to 280.55. Over in Hong Kong, the Hang Seng Index up by 0.18% to 17,517.40. In Japan, the Nikkei 225 down 0.26% to 30,994.67, while the Topix index was up 0.14% to 2,264.08. South Korea’s Kospi up 0.21% to 2,408.73. Australia S&P/ASX 200 up 0.23% to, 6,970.20.

European stocks hit third straight weekly loss as yields surge.

The DAX futures contract in Germany traded 0.25 lower, CAC 40 futures in France down 0.09% to 7,053.77 and the UK 100 futures contract in the U.K. up 0.53% to 7,534.51.

US stocks-Indexes end up sharply with tech after strong jobs, slower wage growth.

As investors analysed a jobs data that showed U.S. hiring increased broadly in September despite slower wage growth, U.S. stocks soared on Friday, with technology shares driving the market to a substantially higher close.

Indexes: Dow up 0.9%, S&P 500- up 1.2%, Nasdaq up 1.6%.

Corporate News:

Walt Disney Co (DIS) up 2.64% at 82.94, Walmart Inc. (WMT) down at 1.68% at 156.41, Amazon.com, Inc. (AMZN) up at 1.59% at 127.96. JPMorgan Chase & Co (JPM) up 1.54% at 145.10, Morgan Stanley (MS) up 1.49% at 80.33.

Key Economic Events & Data Release Today:

(EUR) German Industrial Production (MoM) (Aug) Actual –0.2%, Forecast –0.1%, Previous –0.8% at 11:30

(EUR) ECB’s Enria Speaks at 14:45.