. Weekly Index Analysis - Dow Jones Trends Unveiled

Weekly Index Analysis – Dow Jones Trends Unveiled

Weekly Index Analysis – Dow Jones Trends Unveiled

25 Nov 2023

Introduction:

In the global indices market, Asian markets traded lower after a mixed closing on Wall Street. The Shanghai Composite edged up by 0.11%, while Hong Kong’s Hang Seng Index dipped 2.12%. European shares ended the week higher with DAX, CAC 40, and UK 100 futures posting gains. Meanwhile, Wall Street barely gained on Friday, with investors grappling with earlier advancements and uncertain prospects of interest rate cuts following comments from Federal Reserve officials.

Market In Focus for the Next Week – Dow Jones

In Friday’s holiday-shortened trading, U.S. stocks finished barely changed. For the fourth week in a row, all three indexes saw weekly advances, while the Dow eked out a modest gain.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 35276.55 | Positive Crossover | Bullish
  • MA 20: 34642.69 | Positive Crossover | Bullish
  • MA 50: 34310.14 | Positive Crossover | Bullish

Simple:

MA 5: 35294.00 | Positive Crossover | Bullish

MA 20: 34457.78| Positive Crossover | Bullish

MA 50: 34009.72 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.2| Buy Zone| Bullish

Stochastic Oscillator: 100.00| Buy Zone | Positive

Resistance And Support Levels:

  • R1: 35459.74 | R2: 36250.68
  • S1: 35003.43| S2: 34318.97

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 35672.69 | Take Profit: 36250.68| Stop Loss: 35338.06.

Elsewhere in the Indices Market.

Asian markets show a mix of movements as investors assess key Japanese economic data.

The Shanghai composite is down at 0.68%. Overall, the Singapore MSCI is down 0.70% to 271.35. Over in Hong Kong, the Hang Seng Index is down by 1.96% to 17,559.42. In Japan, the Nikkei 225 was up 0.52% to 33,625.53, while the Topix index was up 0.54% to 2,390.94. South Korea’s Kospi down 0.73% to 2,469.63. Australia S&P/ASX 200 is up 0.17% to, 7,040.80.

European stocks closed the week higher due to gains in retail and media.

The DAX futures contract in Germany traded 0.22% higher, CAC 40 futures in France up 0.20% to 7,292.80 and the UK 100 futures contract in the U.K. up 0.06% to 7,488.20.

Wall Street concludes a mixed Black Friday trading session.

In the abbreviated trading session on Friday, U.S. stocks showed minimal fluctuations, marked by low trading volume and investor uncertainty. Observing the commencement of the holiday shopping season, investors remained vigilant for indications of consumer resilience.

Indexes: Dow up 0.33%, S&P up 0.06%, Nasdaq down 0.11%.

Corporate News:

Tesla (TSLA) is up 0.53% at 235.45, Apple (AAPL) is down 0.70% at 189.97, and Morgan Stanley (MS) is up 0.20% at 78.65. JPMorgan Chase & Co (JPM) is up 0.14% at 153.54, and Goldman Sachs Group Inc, (GS) up 0.15% at 339.15.

Key Economic Events & Data Release for Upcoming Week:

(USD) Building Permits (Monday).

(AUD) Retail Sales (MoM) (Oct) (Monday).

(USD) CB Consumer Confidence (Nov) (Tuesday)

(NZD) RBNZ Interest Rate Decision (Tuesday).

(EUR German CPI (MoM) (Nov) (Wednesday).

(USD) GDP (QoQ) (Q3) (Wednesday).

(GBP) BoE Gov Bailey Speaks (Thursday)