. Daily Index Analysis - Nasdaq 100 Holds, FTSE 100 Inches Up.

Daily Index Analysis – Nasdaq 100 Holds, FTSE 100 Inches Up.

Daily Index Analysis – Nasdaq 100 Holds, FTSE 100 Inches Up.

25 Jun 2024

Introduction:

Global markets saw mixed movements on Tuesday. Asian stocks rose, driven by focus on China’s trade and inflation data. European stocks declined, influenced by negative sentiment from Wall Street. Meanwhile, U.S. stock futures mostly edged higher, with the tech sector rebounding after significant losses earlier in the week.

Market In Focus for today – Nasdaq 100

NASDAQ 100 Continues to see Support Underneath.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 19926.98 | Negative Crossover | Bearish
  • MA 20: 19930.34 | Negative Crossover | Bearish
  • MA 50: 19641.51 | Positive Crossover | Positive

Simple:

  • MA 5: 19943.69 | Negative Crossover | Bearish
  • MA 20: 20071.29| Negative Crossover | Bearish
  • MA 50: 19573.19 | Positive Crossover | Positive

RSI (Relative Strength Index): 49.96| Buy Zone| Bullish


Stochastic Oscillator: 10.36| Sell Zone |Bearish

Resistance And Support Levels:

  • R1: 20028.20 | R2: 20368.57
  • S1: 19631.09| S2: 19154.57


Overall Sentiment: Neutral | Market Direction: Buy


Trade Suggestion: Limit Buy: 19585.71 | Take Profit: 20266.46| Stop Loss: 19211.30.

S&P 500:

The S&P 500 remained flat amid sector rotations.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5530.16 | Negative Crossover | Bearish
  • MA 20: 5521.07 | Positive Crossover | Bullish
  • MA 50: 5463.45 | Positive Crossover | Bullish

Simple:

  • MA 5: 5530.47 | Negative Crossover | Bearish
  • MA 20: 5541.73| Positive Crossover | Bullish
  • MA 50: 5447.93 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.72|Buy Zone | Positive


Stochastic Oscillator: 19.57 | Sell Zone | Negative

Resistance And Support Levels:

  • R1: 5584.80 | R2: 5657.40
  • S1: 5482.71| S2: 5328.89


Overall Sentiment: Bullish| Market Direction: Buy


Trade Suggestion: Buy Limit : 5439.61 | Take Profit: 5557.58| Stop Loss: 5380.62.

FTSE 100:

The UK’s FTSE 100 inched up on Tuesday, with gains in energy shares balancing out declines in defence stocks. Investors remained cautious ahead of economic data that could influence expectations for U.S. and UK interest rates.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 8265.36 | Positive Crossover | Bullish
  • MA 20: 8247.57 | Positive Crossover | Bullish
  • MA 50: 8242.62 | Positive Crossover | Bullish

Simple:

  • MA 5: 8269.12 | Positive Crossover | Bullish
  • MA 20: 8233.97| Positive Crossover | Bullish
  • MA 50: 8232.02 | Positive Crossover | Bearish

RSI (Relative Strength Index): 54.64| Buy Zone| Bullish


Stochastic Oscillator: 76.8| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 8295.6 | R2: 8451.7
  • S1: 8150.5| S2: 8020.4


Overall Sentiment: Neutral | Market Direction: Sell


Trade Suggestion: Sell Limit : 8314.2 | Take Profit: 8451.7| Stop Loss: 8217.5.

Euro Stoxx 50:

European stock markets mostly weakened on Tuesday, with sentiment impacted by the overnight selloff of major Big Tech stocks on Wall Street.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4925.81 | Positive Crossover | Bullish
  • MA 20: 4927.20 | Positive Crossover | Bullish
  • MA 50: 4952.47 | Negative Crossover | Bearish

Simple:

  • MA 5: 4928.04 | Positive Crossover | Bullish
  • MA 20: 4914.53| Positive Crossover | Bullish
  • MA 50: 4964.02 | Negative Crossover | Bearish

RSI (Relative Strength Index): 48.87| Bullish Zone| Positive


Stochastic Oscillator: 60.00| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 4950 | R2: 5071
  • S1: 4870| S2: 4793


Overall Sentiment: Neutral | Market Direction: Buy


Trade Suggestion: Stop Buy : 4955 | Take Profit: 5071| Stop Loss: 4891.


Elsewhere in the Indices Market:

Asian stocks rise with a focus on China’s trade and inflation data.

The Shanghai composite is down at 0.44%. Overall, the Singapore MSCI up 0.35% to 313.85. Over in Hong Kong, the Hang Seng Index up 0.25% to 18,072.90. In Japan, the Nikkei 225 up 0.95% to 39,173.15, while the Topix index was up 1.72% to 2787.37. South Korea’s Kospi down 0.70% to 2,764.73. Australia S&P/ASX 200 up 1.25% to, 7,821.5.

European stocks decline following negative sentiment from Wall Street.

The DAX futures contract in Germany traded 0.98 down, CAC 40 futures in France down 0.71% to 7,652.16 and the UK 100 futures contract in the U.K. up 0.18% to 8,266.91.

U.S. stock futures mostly rise; tech sector rebounds after significant losses.

U.S. stock index futures mostly edged higher on Tuesday, recovering after widespread selling in technology shares at the beginning of the week.

Indexes: Dow down 0.1%, S&P 500- up 0.2%, Nasdaq up 0.5%.

Corporate News:

Netflix, Inc. (NFLX) up 0.00% at 669.02, Tesla, Inc (TSLA) up 1.71% at 182.58, Apple Inc. (AAPL) up 0.13% at 208.31. Goldman Sachs Group Inc (GS) down 0.32% at 462.09, Morgan Stanley (MS) up 0.06% at 97.16.



Key Economic Events & Data Release Today:

(CAD) Core CPI (MoM) (May) Forecast 0.2%, Previous 0.2% at 08:30. (USD) CB Consumer Confidence (Jun) For