. Daily Index Analysis - Explore indices, trends, trades in volatility.

Daily Index Analysis – Explore indices, trends, trades in volatility.

Daily Index Analysis – Explore indices, trends, trades in volatility.

26 Mar 2024

Introduction:

In the realm of global indices, Asian markets exhibit stability, awaiting further economic cues. While some indices like the Shanghai Composite and Hong Kong’s Hang Seng Index show gains, others like Japan’s Nikkei 225 witness minor dips. In Europe, markets show volatility following recent central bank policy shifts. Meanwhile, on Wall Street, losses prevail amidst anticipation of forthcoming U.S. data, while the dollar faces pressure from the yen and yuan.

Market In Focus for today – Dow Jones

The Dow Jones Industrial Average declines as shares of Intel and AMD experience sell-offs.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 39807.82 | Negative Crossover | Bearish
  • MA 20: 39705.91 | Positive Crossover | Bullish
  • MA 50: 39399.91 | Positive Crossover | Bullish

Simple:

  • MA 5: 39916.08 | Negative Crossover | Bearish
  • MA 20: 39731.17| Positive Crossover | Bullish
  • MA 50: 39241.99 | Positive Crossover | Bullish

RSI (Relative Strength Index): 57.87| Buying Zone| Buy

Stochastic Oscillator: 5.24| Sell Zone | Negative

Resistance And Support Levels:

  • R1: 39863.22 | R2: 40324.99
  • S1: 39422.44| S2: 38876.72

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy: 39632.34 | Take Profit: 40272.52| Stop Loss: 39202.05.

S&P 500:

The S&P 500 is retreating as traders take some profits off the table near historic highs.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5284.25 | Positive Crossover | Bullish
  • MA 20: 5263.75 | Positive Crossover | Bullish
  • MA 50: 5206.86 | Positive Crossover | Bullish

Simple:

  • MA 5: 5293.04 | Positive Crossover | Bullish
  • MA 20: 5264.59| Positive Crossover | Bullish
  • MA 50: 5194.00 | Positive Crossover | Bullish

RSI (Relative Strength Index): 66.86| Bullish Zone| Positive

Stochastic Oscillator: 26.55| Sell Zone | Negative

Resistance And Support Levels:

  • R1: 5315.27 | R2: 5398.60
  • S1: 5221.25| S2: 5110.14

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Limit Buy: 5198.59 | Take Profit: 5296.19| Stop Loss: 5143.13.

FTSE 100:

The FTSE 100 declines amidst uncertainty surrounding US inflation data.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7906.38 | Positive Crossover | Bullish
  • MA 20: 7862.02 | Positive Crossover | Bullish
  • MA 50: 7789.50 | Positive Crossover | Bullish

Simple:

  • MA 5: 7922.34 | Positive Crossover | Bullish
  • MA 20: 7838.19| Positive Crossover | Bullish
  • MA 50: 7761.30| Positive Crossover | Bullish

RSI (Relative Strength Index): 70.59| Buy Zone| Positive

Stochastic Oscillator: 66.88| Buy Zone | Negative

Resistance And Support Levels:

  • R1: 7987.4 | R2: 8057.8
  • S1: 7879.8| S2: 7786.7

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy: 7844.6 | Take Profit: 7964.7| Stop Loss: 7765.9.

DAX 40:

The DAX saw gains on Monday, but attention is now on German consumer confidence data and commentary from the ECB for Tuesday.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18283.61 | Positive Crossover | Bullish
  • MA 20: 18196.19 | Positive Crossover | Bullish
  • MA 50: 17990.65| Positive Crossover | Bullish

Simple:

  • MA 5: 18275.21| Positive Crossover | Bullish
  • MA 20: 18171.15| Positive Crossover | Bullish
  • MA 50: 17979.86| Positive Crossover | Bullish

RSI (Relative Strength Index): 72.19| Buy Zone| Bullish

Stochastic Oscillator: 84.58|Buying Zone | Positive

Resistance And Support Levels:

  • R1: 18436.1 | R2: 18743.3
  • S1: 18067.4 | S2: 17644.1

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Limit Buy: 18053.7 | Take Profit: 18436.1 | Stop Loss: 17821.6.

Elsewhere in the Indices Market:

Asian stocks maintain stability as they await further economic indicators.

The Shanghai composite is up at 0.17%. Overall, the Singapore MSCI up 0.58% to 293.43. Over in Hong Kong, the Hang Seng Index is up 0.88% to 16,618.32. In Japan, the Nikkei 225 was down 0.04% to 40,398.03, while the Topix index was up 0.11% to 2780.80. South Korea’s Kospi up 0.71% to 2,757.09. Australia S&P/ASX 200 is down 0.41% to, 7,780.20.

European markets experienced volatility on Tuesday as investors reflected on recent central bank policy moves in Europe and the U.S.

The DAX futures contract in Germany traded 0.31 higher, CAC 40 futures in France up 0.11% to 8,160.65, and the UK 100 futures contract in the U.K. down 0.08% to 7,911.07.

Ahead of the release of U.S. data, Wall Street concluded with losses, while the dollar faced pressure from the yen and yuan.

At the beginning of a shortened holiday week, U.S. stocks declined on Monday as investors positioned themselves before the release of inflation data. All three main U.S. stock indices closed the session lower, with the Dow experiencing the most significant percentage decline.

Indexes: Dow down 0.41%, S&P 500- down 0.31%, Nasdaq down 0.27%.

Corporate News:

Netflix, Inc. (NFLX) is down 0.88% at 627.46, Tesla, Inc. (TSLA) is up 1.05% at 172.863, and Apple Inc. (AAPL) is down 0.83% at 170.85. Goldman Sachs Group Inc (GS) is down 0.46% at 404.92, and Morgan Stanley (MS) is down 0.88% at 91.14.

Key Economic Events & Data Release Today:

(CAD) Wholesale Sales (MoM) Previous 0.1% at 18:00.

(USD) Durable Goods Orders (MoM) (Feb) Forecast 1.2%, Previous –6.1% at 18:00.

(USD) CB Consumer Confidence (Mar) Forecast 106.9, Previous 106.7 at 19:30.