. Daily Index Analysis - Iran strike rocks global markets, Nasdaq wavers.

Daily Index Analysis – Iran strike rocks global markets, Nasdaq wavers.

Daily Index Analysis – Iran strike rocks global markets, Nasdaq wavers.

15 Apr 2024

Introduction:

In the indices market landscape, Asian stocks face declines following Iran’s attack on Israel. The Shanghai composite is an exception with a rise of 1.46%. Meanwhile, European equities show a slight uptick amidst geopolitical tensions. In the U.S., stock futures exhibit a modest increase on Monday, amid lingering concerns over Iran’s actions and recent market volatility.

Market In Focus for today – Nasdaq 100

The Nasdaq 100 experiences considerable volatility, trading within a sideways range.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18274.19 | Positive Crossover | Bullish
  • MA 20: 18293.05 | Negative Crossover | Bearish
  • MA 50: 18317.18 | Negative Crossover | Bearish

Simple:

  • MA 5: 18279.15 | Positive Crossover | Bullish
  • MA 20: 18295.07| Negative Crossover | Bearish
  • MA 50: 18379.24 | Negative Crossover | Bearish

RSI (Relative Strength Index): 48.89| Buy Zone| Bullish

Stochastic Oscillator: 43.11| Neutral Zone | Neutral

Resistance And Support Levels:

  • R1: 18349.58 | R2: 18670.49
  • S1: 18049.50| S2: 17712.94

Overall Sentiment: Neutral | Market Direction: Sell

Trade Suggestion: Sell Limit: 18349.58 | Take Profit: 18044.20| Stop Loss: 18566.97.

S&P 500:

On Monday, U.S. stock futures showed a slight uptick despite investors contending with various challenges. The S&P 500 increased by approximately 0.5%.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5201.88 | Negative Crossover | Bearish
  • MA 20: 5219.02 | Negative Crossover | Bearish
  • MA 50: 5233.90 | Negative Crossover | Bearish

Simple:

  • MA 5: 5202.40 | Negative Crossover | Bearish
  • MA 20: 5227.09| Negative Crossover | Bearish
  • MA 50: 5259.00 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.43| Neutral Zone| Negative

Stochastic Oscillator: 26.75| Sell 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:  Sell Limit : 5244.90 | Take Profit: 5191.21| Stop Loss: 5290.46.

FTSE 100:

FTSE 100 declines as oil prices drop despite Iran’s actions.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7974.99 | Positive Crossover | Bullish
  • MA 20: 7960.93 | Positive Crossover | Bullish
  • MA 50: 7936.99 | Positive Crossover | Bullish

Simple:

  • MA 5: 7975.12 | Positive Crossover | Bullish
  • MA 20: 7960.86| Positive Crossover | Bullish
  • MA 50: 7936.35 | Positive Crossover | Bullish

RSI (Relative Strength Index): 55.92| Bullish Zone| Positive

Stochastic Oscillator: 25.81| Neutral Zone | Negative

Resistance And Support Levels:

  • R1: 8063.1 | R2: 8157.5
  • S1: 7937.2| S2: 7820.4

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit : 7990.2 | Take Profit: 8054.6| Stop Loss: 7959.9.

Euro Stoxx 50:

European shares edged higher on Monday, with concerns over tensions in the Middle East prevailing.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4999.38 | Positive Crossover | Bullish
  • MA 20: 5014.76 | Positive Crossover | Bullish
  • MA 50: 5022.74 | Positive Crossover | Bullish

Simple:

  • MA 5: 4994.01 | Positive Crossover | Bullish
  • MA 20: 5015.06 | Positive Crossover | Bullish
  • MA 50: 5049.00 | Negative Crossover | Bearish

RSI (Relative Strength Index): 51.31| Buy Zone| Bullish

Stochastic Oscillator: 47.74| Buy Zone | Positive

Resistance And Support Levels:

  • R1: 5039 | R2: 5139
  • S1: 4923 | S2: 4807

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Stop Buy : 5036 | Take Profit: 5107 | Stop Loss: 5000.

Elsewhere in the Indices Market:

Asian stocks decline in Wake of Iran Attack on Israel.

The Shanghai composite is up at 1.46%. Overall, the Singapore MSCI down 1.40% to 288.25. Over in Hong Kong, the Hang Seng Index down 0.72% to 16,600.46. In Japan, the Nikkei 225 down 0.74% to 39,232.80, while the Topix index was down 0.23% to 2753.20. South Korea’s Kospi down 0.42% to 2,670.43. Australia S&P/ASX 200 down 0.46% to, 7,752.50.

European equities nudge higher amidst geopolitical tensions.

The DAX futures contract in Germany traded 0.83 higher, CAC 40 futures in France up 0.76% to 8,072.08 and the UK 100 futures contract in the U.K. down 0.40% to 7,963.51.

U.S. stock futures saw a slight uptick Monday.

On Monday, U.S. stock futures showed a modest increase, despite investors grappling with various concerns, such as Iran’s missile and drone attack on Israel and heightened volatility in the equity market, which led to the Dow Jones Industrial Average experiencing its worst week of the year.

Indexes: Dow up 0.3%, S&P 500- up 0.5%, Nasdaq up 0.5%.

Corporate News:

Netflix, Inc. (NFLX) down 0.95% at 622.83, Tesla, Inc (TSLA) down 2.03% at 171.05, Apple Inc. (AAPL) up 0.86% at 176.55. Goldman Sachs Group Inc (GS) down 2.01% at 389.49, Morgan Stanley (MS) down 0.75% at 86.19.

Key Economic Events & Data Release Today:

(EUR) Industrial Production (MoM) (Feb) Forecast –0.8%, Previous –3.2% at 14:30.

(CHF) PPI (MoM) (Mar) Forecast 0.2%, Previous 0.1% at 12:00

(USD) Core Retail Sales (MoM) (Mar) Forecast 0.5%, Previous 0.3% at 18:00.

(USD) Retail Sales (MoM) (Mar) Forecast 0.4%, Previous 0.6% at 18:00.