. Daily Index Analysis - FTSE 100's Turbulent Day, Dive into Market Chaos

Daily Index Analysis – FTSE 100’s Turbulent Day, Dive into Market Chaos

Daily Index Analysis – FTSE 100’s Turbulent Day, Dive into Market Chaos

05 Dec 2023

Introduction:

In the global indices market, Asia-Pacific markets saw widespread declines as investors scrutinized regional economic data. The Shanghai composite dropped by 1.67%, and the Hang Seng Index in Hong Kong fell by 1.91%. European stocks showed mixed performance, focusing on eurozone inflation data and PMIs. In the U.S., stock futures edged lower, interrupting the late-2023 rally, with attention on crucial upcoming employment data.

Market In Focus for today – FTSE 100

On Tuesday, European stock markets exhibited a varied performance as investors anticipated additional regional economic data and evaluated the potential for central bank interest rate cuts.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7504.80 | Negative Crossover | Bearish
  • MA 20: 7482.28 | Positive Crossover | Bullish
  • MA 50: 7466.70 | Positive Crossover | Bullish

Simple:

  • MA 5: 7512.72 | Negative Crossover | Bearish
  • MA 20: 7473.74| Positive Crossover | Bullish
  • MA 50: 7463.57 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.38| Buy Zone| Bullish

Stochastic Oscillator: 75.96| Buy Zone | Positive

Resistance And Support Levels:

  • R1: 7515.9 | R2: 7627.0
  • S1: 7429.3| S2: 7325.7

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 7534.7 | Take Profit: 7627.0| Stop Loss: 7483.9.

Elsewhere in the Indices Market

Asia-Pacific markets fell across the board as investors evaluated a range of economic data from across the region.

The Shanghai composite is down at 1.67%. Overall, the Singapore MSCI down 0.15% to 271.20. Over in Hong Kong, the Hang Seng Index down 1.91% to 16,327.86. In Japan, the Nikkei 225 down 1.37% to 32,775.82, while the Topix index was down 0.84% to 2,342.69. South Korea’s Kospi down 0.82% to 2,494.28. Australia S&P/ASX 200 down 0.89% to, 7,061.60.

European stocks mixed; attention is on inflation data and PMIs for the Eurozone.

The DAX futures contract in Germany traded 0.00 neutral, CAC 40 futures in France up 0.12% to 7,341.21 and the UK 100 futures contract in the U.K. down 0.45% to 7,479.21.

US stock futures inch lower on Monday as Major averages halt their late-2023 rally.

Stocks on Wall Street witnessed a drop on Monday, breaking away from the positive momentum of November. Investors are closely monitoring essential employment data from the US scheduled for later this week.

Indexes: Dow down 0.08%, S&P 500- down 0.54%, Nasdaq down 0.89%.

Corporate News:

Netflix, Inc. (NFLX) down 2.54% at 453.90, Tesla, Inc (TSLA) down 1.36% at 235.58, Apple Inc. (AAPL) down 0.95% at 189.43. Goldman Sachs Group Inc (GS) up 0.28% at 349.39, Morgan Stanley (MS) up 0.40% at 81.21.

Key Economic Events & Data Release Today:

(AUD) RBA Interest Rate Decision (Dec) Actual 4.35%, Forecast 4.35%, Previous 4.35% at 09:00.

(USD) Service PMI (Nov) Forecast 50.8, Previous 50.6 at 20:15.

(USD) ISM Non-Manufacturing PMI (Nov) Forecast 52.0, Previous 51.8 at 20:30.

(USD) JOLTs Job Openings (Oct) Forecast 9.300M, Previous 9.553M at 20:30.