. Weekly Index Analysis - Nasdaq 100, SP 500, FTSE 100, DAX 40.

Weekly Index Analysis – Nasdaq 100, SP 500, FTSE 100, DAX 40.

Weekly Index Analysis – Nasdaq 100, SP 500, FTSE 100, DAX 40.

06 Apr 2024

Introduction:

In the global indices market, Asian stocks stumble amidst a risk-off sentiment, with major indices in Japan, South Korea, and Australia recording losses. European markets also closed lower, wrapping up a lackluster week for investors. Meanwhile, Wall Street indices rise due to strong employment data, suggesting resilience in the U.S. economy and potentially delaying Federal Reserve interest rate adjustments.

Market In Focus for the Next Week – Nasdaq 100

On Friday, the NASDAQ 100 experienced a slight rebound, influenced by the market’s response to the Non-Farm Payroll figures.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18343.18 | Negative Crossover | Bearish
  • MA 20: 18328.55 | Positive Crossover | Bullish
  • MA 50: 18083.96 | Positive Crossover | Bullish

Simple:

  • MA 5: 18380.70 | Negative Crossover | Bearish
  • MA 20: 18384.52| Negative Crossover | Bearish
  • MA 50: 18141.40 | Positive Crossover | Bullish

RSI (Relative Strength Index): 50.69| Buy Zone| Bullish


Stochastic Oscillator: 26.22| Buy Zone | Positive

Resistance And Support Levels:

  • R1: 18372.55 | R2: 18706.72
  • S1: 18070.20| S2: 17592.81


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion: Limit Buy: 18276.86 | Take Profit: 18657.12| Stop Loss: 18053.66.

S&P 500:

On April 5, 2024, the S&P 500 surged by 1.1% following the release of the latest employment report, which revealed that the U.S. economy surpassed expectations by adding more jobs than anticipated in March.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 5260.92 | Negative Crossover | Bearish
  • MA 20: 5246.87 | Positive Crossover | Bullish
  • MA 50: 5153.89 | Positive Crossover | Bullish

Simple:

  • MA 5: 5274.61 | Negative Crossover | Bearish
  • MA 20: 5265.85| Negative Crossover | Bearish
  • MA 50: 5156.39| Positive Crossover | Bullish

RSI (Relative Strength Index): 55.03| Bullish Zone| Positive


Stochastic Oscillator: 22.42|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 5255.50 | R2: 5332.07
  • S1: 5199.88| S2: 5098.64


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion:  Limit Buy: 5249.04 | Take Profit: 5308.31| Stop Loss: 5214.23.

FTSE 100:

FTSE 100 Drop on Pared Back Rate Cut Expectations.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7913.27 | Positive Crossover | Bullish
  • MA 20: 7858.36 | Positive Crossover | Bullish
  • MA 50: 7760.88 | Positive Crossover | Bullish

Simple:

  • MA 5: 7941.43 | Negative Crossover | Bearish
  • MA 20: 7841.69| Positive Crossover | Bullish
  • MA 50: 7730.21| Positive Crossover | Bullish

RSI (Relative Strength Index): 62.28| Buying Zone| Buy


Stochastic Oscillator: 46.83|Buy Zone | Negative

Resistance And Support Levels:

  • R1: 7950.2 | R2: 8037.1
  • S1: 7872.1| S2: 7779.4


Overall Sentiment: Positive | Market Direction: Buy


Trade Suggestion:   Limit Buy: 7912.2 | Take Profit: 7999.6| Stop Loss: 7873.4.

DAX 40:

Europe’s stock index plunged to its lowest point in over two weeks on Friday, driven by a general market downturn spurred by hawkish remarks from certain Federal Reserve officials, escalating tensions in the Middle East, and unexpectedly strong US jobs data.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 18307.63 | Negative Crossover | Bearish
  • MA 20: 18161.55 | Positive Crossover | Bullish
  • MA 50: 17723.22 | Positive Crossover | Bullish

Simple:

  • MA 5: 18371.09 | Negative Crossover | Bearish
  • MA 20: 18166.35| Positive Crossover | Bullish
  • MA 50: 17634.22| Positive Crossover | Bullish

RSI (Relative Strength Index): 59.65| Positive Zone| Bullish


Stochastic Oscillator: 3.48|Buy Zone | Negative

Resistance And Support Levels:

  • R1: 18336.0 | R2: 18624.1
  • S1: 17979.6| S2: 17630.8


Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Stop Buy: 18305.7 | Take Profit: 18624.1| Stop Loss: 18093.3.

Elsewhere in the Indices Market

Asia stocks stumble on risk-off mood.

The Shanghai composite is down at 0.18%. Overall, the Singapore MSCI up 0.76% to 292.70. Over in Hong Kong, the Hang Seng Index is down 0.01% to 16,723.92. In Japan, the Nikkei 225 was down 1.96% to 38,992.08, while the Topix index was down 1.08% to 2702.62. South Korea’s Kospi down 1.01% to 2,714.21. Australia S&P/ASX 200 is down 0.56% to, 7,773.30.

European markets concluded Friday’s session with losses, marking the end of a lackluster first trading week of the new quarter for investors.

The DAX futures contract in Germany traded 1.24 lower, CAC 40 futures in France down 1.11% to 8,061.31, and the UK 100 futures contract in the U.K. down 0.81% to 7,911.16.

Wall Street indices climb following robust employment figures.

U.S. stocks closed with gains on Friday, buoyed by a robust jobs report that affirmed the economy’s strength, potentially postponing any Federal Reserve interest rate cuts.

Indexes: Dow up 0.8%, S&P 500- up 1.1%, Nasdaq up 1.2%.

Corporate News:

Tesla (TSLA) is down 3.63% at 164.90, Apple (AAPL) is up at 0.45% at 169.58, and Morgan Stanley (MS) is up 0.21% at 92.47. JPMorgan Chase & Co (JPM) up 0.92% at 197.45, and Goldman Sachs Group Inc, (GS) up 0.45% at 408.07.

Key Economic Events & Data Release for Upcoming Week:

(EUR) German Industrial Production (MoM) (Feb) (Monday)

(NZD) RBNZ Interest Rate Decision (Wednesday)

(USD) CPI (MoM) (Mar) (Wednesday)

(USD) Core CPI (MoM) (Mar) (Wednesday)

(CAD) BoC Interest Rate Decision (Wednesday)

(USD) FOMC Meeting Minutes (Wednesday)

(GBP) GDP (YoY) (Q4) (Wednesday)

(EUR) German Unemployment Change (Mar) (Wednesday)

(EUR) ECB Interest Rate Decision (Apr) (Thursday)

(EUR) ECB Monetary Policy Statement (Thursday)

(USD) PPI (MoM) (Mar) (Thursday)

(USD) Initial Jobless Claims (Thursday)

(EUR) ECB Press Conference (Thursday)