. Daily Index Analysis - Nasdaq, Dow, FTSE Hit Records.

Daily Index Analysis – Nasdaq, Dow, FTSE Hit Records.

Daily Index Analysis – Nasdaq, Dow, FTSE Hit Records.

15 Dec 2023

Introduction:

Global markets experienced diverse movements as Asian stocks surged, propelled by the Dow Jones Industrial Average’s record climb. Meanwhile, European markets made modest gains after central bank decisions, and U.S. stock futures indicated a slight increase following the Dow’s latest milestone, marking a robust weekly winning streak.

Market In Focus for today – Nasdaq 100

The index has had a strong rebound over the last two months. At 16,769, it is currently aiming for record highs; a rise beyond this would put it in uncharted territory.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 16516.81 | Positive Crossover | Bullish
  • MA 20: 16120.76 | Positive Crossover | Bullish
  • MA 50: 15730.77 | Positive Crossover | Bullish

Simple:

  • MA 5: 16500.09 | Positive Crossover | Bullish
  • MA 20: 16117.81| Positive Crossover | Bullish
  • MA 50: 15515.13 | Positive Crossover | Bullish

RSI (Relative Strength Index): 72.04| Buy Zone| Bullish

Stochastic Oscillator: 98.47|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 16838.39 | R2: 17329.87
  • S1: 16198.55| S2: 15456.70

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Buy Limit: 16235.64 | Take Profit: 16662.20| Stop Loss: 15938.90.

DOW JONES:

Closing on a positive note, U.S. stocks strengthened on Thursday, as the Dow secured its second consecutive record closing, driven by expectations of lower interest rates.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 37446.05 | Positive Crossover | Bullish
  • MA 20: 36808.89 | Positive Crossover | Bullish
  • MA 50: 36183.23 | Positive Crossover | Bullish

Simple:

  • MA 5: 37434.09 | Positive Crossover | Bullish
  • MA 20: 36650.89| Positive Crossover | Bullish
  • MA 50: 36111.07| Positive Crossover | Bullish

RSI (Relative Strength Index): 87.09| Buy Zone| Bullish

Stochastic Oscillator: 94.28|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 37749.50 | R2: 38512.64
  • S1: 36781.61| S2: 35757.88

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit: 36688.55 | Take Profit: 37619.21| Stop Loss: 36092.92.

FTSE 100:

FTSE 100 experiencing a surge as the Federal Reserve signals the conclusion of rate hikes, reaching its highest level since September 22.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7657.32 | Positive Crossover | Bearish
  • MA 20: 7593.90 | Positive Crossover | Bullish
  • MA 50: 7539.70 | Positive Crossover | Bullish

Simple:

  • MA 5: 7666.80 | Positive Crossover | Bullish
  • MA 20: 7580.38| Positive Crossover | Bullish
  • MA 50: 7520.08 | Positive Crossover | Bullish

RSI (Relative Strength Index): 65.43| Buy Zone| Bullish

Stochastic Oscillator: 61.71|Buy Zone | Negative

Resistance And Support Levels:

  • R1: 7671.3 | R2: 7804.5
  • S1: 7578.1| S2: 7462.0

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: STOP BUY: 7694.1 | Take Profit: 7804.5| Stop Loss: 7629.4.

DAX 40:

European markets saw modest gains on Friday, poised to conclude a positive week following significant policy decisions from major central banks. The DAX 40 traded 0.4% higher.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 17010.71 | Positive Crossover | Bullish
  • MA 20: 16860.53 | Positive Crossover | Bullish
  • MA 50: 16538.48 | Positive Crossover | Bullish

Simple:

  • MA 5: 17033.02 | Positive Crossover | Bullish
  • MA 20: 16860.02| Positive Crossover | Bullish
  • MA 50: 16491.09 | Positive Crossover | Bullish

RSI (Relative Strength Index): 67.57| Buy Zone| Bullish

Stochastic Oscillator: 10.46|Sell Zone | Negative

Resistance And Support Levels:

  • R1: 17190.2 | R2: 17472.6
  • S1: 16863.6| S2: 16545.9

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit: 16854.8 | Take Profit: 17190.2| Stop Loss: 16625.3.

Elsewhere in the Indices Market:

Asian stocks surged on Friday after the Dow Jones Industrial Average climbed to another record.

The Shanghai composite is down at 0.56%. Overall, the Singapore MSCI is down 0.54% to 274.27. Over in Hong Kong, the Hang Seng Index is up 2.38% to 16,792.19. In Japan, the Nikkei 225 was up 0.87% to 32,970.55, while the Topix index was up 0.47% to 2,332.28. South Korea’s Kospi up 0.76% to 2,563.56. Australia S&P/ASX 200 is up 0.88% to, 7,442.70.

European markets made slight gains following a series of central bank decisions.

The DAX futures contract in Germany traded 0.50 higher, CAC 40 futures in France up 0.23% to 7,593.17 and the UK 100 futures contract in the U.K. up 0.04% to 7,652.00.

US Stock futures show a slight increase on Friday following a new record set by the Dow.

On Friday, U.S. stock futures rose as the Dow Jones Industrial Average achieved a new record, marking its most successful weekly winning streak since 2019.

Indexes: Dow up 0.25%, S&P 500- up 0.23%, Nasdaq up 0.27%.

Corporate News:

Netflix, Inc. (NFLX) is down 2.11% at 469.83, Tesla, Inc. (TSLA) is up 4.91% at 251.05, and Apple Inc. (AAPL) is up 0.076% at 198.11. Goldman Sachs Group Inc (GS) is up 5.72% at 383.47, and Morgan Stanley (MS) is up 6.32% at 91.04.

Key Economic Events & Data Release Today:

(CNY) Industrial Production (YoY) (Nov) Actual 6.6%, Forecast 5.6%, Previous 4.6% at 07:30.

(GBP) German Manufacturing PMI (Dec) Actual 43.1, Forecast 43.2, Previous 42.6 at 14:00.

(CAD) Wholesale Sales (MoM) (Oct) Forecast 0.5%, Previous 0.4% at 19:00.

(USD) Manufacturing PMI (Dec) Forecast 49.3, Previous 49.4 at 20:15.

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