Introduction:

In the indices market, Asian markets exhibit a mixed picture as anticipation builds for upcoming central bank decisions. While some indices like Hong Kong’s Hang Seng show modest gains, others like Japan’s Nikkei 225 experience declines. In Europe, shares see slight upticks as attention turns to central bank meetings, with futures contracts reflecting these trends. Meanwhile, on Wall Street, investors maintain a cautious stance ahead of the Federal Reserve’s impending interest rate decision.

Market In Focus for today – S&P 500

S&P 500 finishes Monday with little change as traders anticipate the Fed policy meeting.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

• MA 5: 4504.59 | Positive Crossover | Bullish
• MA 20: 4497.18 | Positive Crossover | Bullish
• MA 50: 4487.95 | Positive Crossover | Bullish

Simple:

• MA 5: 4501.72 | positive Crossover | Bullish
• MA 20: 4493.30| Positive Crossover | Bullish
• MA 50: 4491.03 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.95 | Buy Zone | Positive

Stochastic Oscillator: 29.29 | Sell Zone | Negative

Resistance And Support Levels: 

• R1: 4540.81 | R2: 4616.81
• S1: 4488.42 | S2: 4432.56

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 4561.86 | Take Profit: 4616.69 | Stop Loss: 4525.66.

Elsewhere in the Indices Market

Ahead of this week’s eagerly anticipated central bank decisions, the Asian markets decline.

The Shanghai composite is down at 0.03%. Overall, the Singapore MSCI is down 1.03% to 284.50. Over in Hong Kong, the Hang Seng Index is up by 0.37% to 17,997.17. In Japan, the Nikkei 225 was down 0.87% to 33,242.59, while the Topix index was up 0.79% to 2,430.30. South Korea’s Kospi down 0.62% to 2,559.21. Australia S&P/ASX 200 is down 0.47% to, 7,196.60.

European shares increase slightly as attention shifts to CENBANK meetings.

The DAX futures contract in Germany traded 0.06% lower, CAC 40 futures in France up 0.22% to 7,291.99 and the UK 100 futures contract in the U.K. up 0.10% to 7,660.95.

Wall Street moves sideways as investors focus on the Fed.

Wall Street ended Monday with little change as market participants anticipated the U.S. Federal Reserve’s anticipated decision to maintain key interest rates on Wednesday.

Indexes up: Dow 0.02%, S&P 500- 0.07%, Nasdaq up 0.1%.

Corporate News:

Apple Inc (AAPL) up 1.69% at 177.97, Netflix Inc (NFLX) is down at 0.64% at 394.40, and NVIDIA Corp (NVDA) is up 0.15% at 439.66. JPMorgan Chase & Co (JPM) up 0.21% at 149.21, Walt Disney Co (DIS) down 0.65% at 85.02.

Key Economic Events & Data Release Today:

(AUD) RBA Meeting Minutes at 07:00.

(EUR) CPI (YoY) (Aug) Forecast 5.3%, Previous 5.3% at 14:30.

(USD) Building Permits (Aug) Forecast 1.440M, Previous 1.443M at 18:00.

(CAD) Core CPI (MoM) (Aug) Previous 0.5% at 18:00.