. Daily Index Analysis - Track Nasdaq, S&P, FTSE, DAX, gauge trends.

Daily Index Analysis – Track Nasdaq, S&P, FTSE, DAX, gauge trends.

Daily Index Analysis – Track Nasdaq, S&P, FTSE, DAX, gauge trends.

30 Apr 2024

Introduction:

Global markets showed mixed movements on Tuesday amid anticipation of key economic data releases and the Federal Reserve’s policy meeting. In Asia, modest gains were observed, while European markets traded cautiously ahead of pivotal inflation and growth reports. Meanwhile, Wall Street ended positively on Monday, with focus shifting to the Federal Reserve’s forthcoming decisions on interest rates.

Market In Focus for today – Nasdaq 100

The NASDAQ 100 remains poised for upward movement as it seeks to rebound from a significant sell-off.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 17822.00 | Positive Crossover | Bullish
  • MA 20: 17754.60 | Positive Crossover | Bullish
  • MA 50: 17833.45 | Positive Crossover | Bullish

Simple:

  • MA 5: 17848.76 | Positive Crossover | Bullish
  • MA 20: 17664.69| Positive Crossover | Bullish
  • MA 50: 17842.46 | Positive Crossover | Bullish

RSI (Relative Strength Index): 55.75| Buy Zone| Bullish

Stochastic Oscillator: 93.46| Buying Zone | Neutral

Resistance And Support Levels:

  • R1: 18078.46 | R2: 18557.92
  • S1: 17698.19| S2: 17243.53

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 18020.59 | Take Profit: 18433.92| Stop Loss: 17756.06.

S&P 500:

S&P 500 little changed, following the index’s robust performance last week

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5130.45 | Positive Crossover | Bearish
  • MA 20: 5116.38 | Positive Crossover | Bullish
  • MA 50: 5130.82 | Positive Crossover | Bullish

Simple:

  • MA 5: 5135.54 | Positive Crossover | Bearish
  • MA 20: 5104.58| Positive Crossover | Bullish
  • MA 50: 5126.30 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.99 | Positive Zone| Bullish

Stochastic Oscillator: 95.5| Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 5198.44 | R2: 5318.48
  • S1: 5044.11| S2: 4926.93

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit : 5126.99 | Take Profit: 5264.18| Stop Loss: 5044.11.

FTSE 100:

London’s FTSE 100 saw gains on Tuesday afternoon, contrasting with subdued trading in mainland Europe. Investor focus shifted towards the Federal Reserve, while contemplating the implications of the latest Eurozone data on the European Central Bank’s policy decisions.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 8157.61 | Positive Crossover | Bullish
  • MA 20: 8108.68 | Positive Crossover | Bullish
  • MA 50: 8025.14 | Positive Crossover | Bullish

Simple:

  • MA 5: 8160.89 | Positive Crossover | Bullish
  • MA 20: 8111.88| Positive Crossover | Bullish
  • MA 50: 8002.91 | Positive Crossover | Bullish

RSI (Relative Strength Index): 67.41| Buy Zone| Bullish

Stochastic Oscillator: 65.76| Positive Zone | Negative

Resistance And Support Levels:

  • R1: 8223.5 | R2: 8349.0
  • S1: 8066.7| S2: 7897.3

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit : 8082.4 | Take Profit: 8223.5| Stop Loss: 8000.8.

DAX 40:

Tuesday prompts attention towards corporate earnings, the performance of the German economy, and key figures on inflation and GDP for the Eurozone.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18127.55 | Negative Crossover | Bearish
  • MA 20: 18092.89 | Negative Crossover | Bearish
  • MA 50: 18075.10 | Positive Crossover | Bullish

Simple:

  • MA 5: 18120.89 | Negative Crossover | Bearish
  • MA 20: 18097.05 | Negative Crossover | Bearish
  • MA 50: 18047.07 | Positive Crossover | Bullish

RSI (Relative Strength Index): 45.01| Neutral Zone| Neutral

Stochastic Oscillator: 35.09| Sell Zone | Negative

Resistance And Support Levels:

  • R1: 18333.1 | R2: 18639.3
  • S1: 18008.2 | S2: 17620.8

Overall Sentiment: Neutral | Market Direction: Sell

Trade Suggestion:  Stop Buy: 17939.5 | Take Profit: 17620.8 | Stop Loss: 18189.4.

Elsewhere in the Indices Market:

On Tuesday, Asian stock markets saw modest gains as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve’s policy meeting.

The Shanghai composite is down at 0.26%. Overall, the Singapore MSCI down 0.61% to 302.88. Over in Hong Kong, the Hang Seng Index up 0.09% to 17,763.03. In Japan, the Nikkei 225 up 1.24% to 38,405.66, while the Topix index was up 2.11% to 2743.17. South Korea’s Kospi up 0.17% to 2,692.06. Australia S&P/ASX 200 up 0.35% to, 7,664.10.

European stock markets exhibited subdued trading activity on Tuesday, with traders cautious ahead of the release of key European inflation and growth data.

The DAX futures contract in Germany traded 0.43 lower, CAC 40 futures in France down 0.12% to 8,055.07 and the UK 100 futures contract in the U.K. up 0.51% to 8,188.74.

Wall Street stocks close with gains as investors direct their attention towards the actions of the Federal Reserve.

U.S. stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors awaited insights from the Federal Reserve regarding the future of interest rates post its upcoming policy meeting.

Indexes: Dow up 0.38%, S&P 500- up 0.32%, Nasdaq up 0.35%.

Corporate News:

Netflix, Inc. (NFLX) down 0.31% at 559.39, Tesla, Inc (TSLA) up 15.31% at 194.05, Apple Inc. (AAPL) up 2.48% at 173.50. Goldman Sachs Group Inc (GS) up 0.76% at 430.81, Morgan Stanley (MS) up 0.14% at 92.11.

Key Economic Events & Data Release Today:

(AUD) Retail Sales (MoM) (Mar) Forecast 0.2%, Previous 0.3% at 07:00.

(EUR) German Unemployment Change (Apr) Forecast 7K, Previous 4K at 13:25.

(EUR) German GDP (QoQ) (Q1) Forecast 0.1%, Previous 0.6% at 13:30.

(EUR) GDP (QoQ) (Q1) Forecast 0.1%, Previous 0.0% at 14:00 .

(EUR) CPI (YoY) (Apr) Forecast 2.4%, Previous 2.4% at 14:00.

(CAD) GDP (MoM) (Feb) Forecast 0.3%, Previous 0.6% at 18:00.

(CAD) GDP (MoM) (Mar) at 18:01.