. Daily Index Analysis - Lagarde's Insights Awaited Amid Plunge.

Daily Index Analysis – Lagarde’s Insights Awaited Amid Plunge.

Daily Index Analysis – Lagarde’s Insights Awaited Amid Plunge.

27 Nov 2023

Introduction:

In the global indices market, Asian markets witness a decline, particularly in real estate equities, coupled with a rise in service inflation in Japan. Meanwhile, European shares experience a downturn, influenced by falling energy stocks and anticipation surrounding Lagarde’s speech. US futures edge lower as investors await crucial data and policy signals.

Market In Focus for today – DAX 40

On Monday, European shares remained subdued, impacted by declines in energy stocks, as vigilant investors awaited insights from European Central Bank (ECB) President Christine Lagarde regarding monetary policy later in the day.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 16040.00 | Negative Crossover | Bearish
  • MA 20: 15961.09 | Positive Crossover | Bullish
  • MA 50: 15726.87 | Positive Crossover | Bullish

Simple:

  • MA 5: 16048.8 | Negative Crossover | Bearish
  • MA 20: 16001.5| Positive Crossover | Bullish
  • MA 50: 15660.3 | Positive Crossover | Bullish

RSI (Relative Strength Index): 68.83| Buy Zone| Bullish

Stochastic Oscillator: 37.74| Sell Zone | Negative

Resistance And Support Levels:

  • R1: 16070.4 | R2: 16339.2
  • S1: 15855.4| S2: 15640.4

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 16124.2 | Take Profit: 16339.2| Stop Loss: 15996.5.

Elsewhere in the Indices Market

Asia market falls as real estate equities plummet, while service inflation in Japan increases.

The Shanghai composite is down at 0.30%. Overall, the Singapore MSCI up 0.06% to 272.05. Over in Hong Kong, the Hang Seng Index down 0.20% to 17,525.06. In Japan, the Nikkei 225 down 0.53% to 33,447.67, while the Topix index was down 0.38% to 2,381.76. South Korea’s Kospi down 0.04% to 2,495.66. Australia S&P/ASX 200 down 0.76% to, 6,987.60.

European shares face downward pressure due to the decline in energy stocks; attention is on Lagarde’s speech.

The DAX futures contract in Germany traded 0.15 lower, CAC 40 futures in France down 0.05% to 7,289.05 and the UK 100 futures contract in the U.K. down 0.29% to 7,466.19.

US Futures edge downward as investors await additional data and signals from policy developments.

On Monday, U.S. stock index futures dipped in anticipation of a crucial inflation report and upcoming statements from Federal Reserve policymakers later in the week. Attention also turned to retailers as holiday shopping gained momentum with Cyber Monday deals.

Indexes: Dow down 0.13%, S&P 500- down 0.13%, Nasdaq down 0.06%.

Corporate News:

Netflix, Inc. (NFLX) up 0.33% at 479.56, Tesla, Inc (TSLA) up 0.53% at 235.45, Apple Inc. (AAPL) down 0.70% at 189.97. Goldman Sachs Group Inc (GS) up 0.15% at 339.15, Morgan Stanley (MS) up 0.20% at 78.665.

Key Economic Events & Data Release Today:

(USD) Building Permits Forecast 1.487M, Previous 1.471M at 18:30.

(EUR) ECB President Lagarde Speaks at 19:30.

(USD) New Home Sales (Oct) Forecast 721K, Previous 759K at 20:30