BEST INDEX TECHNICAL ANALYSIS BY CAPITAL STREET FX

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Daily Index Analysis – Global indices surge, tech leads rebound.​

Introduction:​

In the global indices landscape, Asian stocks show gains as the US dollar softens amidst considerations of the US interest rate outlook. Notably, the Shanghai Composite, Singapore MSCI, and Nikkei 225 all register positive moves. Meanwhile, European equities rise, despite the UK entering a technical recession. In the US, Wall Street ends on a positive note, primarily boosted by impressive performances from Uber, Lyft, and Nvidia, with the latter surpassing Alphabet in market value.

Market In Focus For Today – Nasdaq 100​

The NASDAQ 100 shows signs of recovery in the early hours, as efforts are made to bounce back from the CPI shock experienced in the Tuesday session.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17844.62 | Positive Crossover | Bullish
• MA 20: 17868.24 | Positive Crossover | Bullish
• MA 50: 17694.58 | Positive Crossover | Bullish

Simple:​

• MA 5: 17836.52 | Positive Crossover | Bullish
• MA 20: 17868.37| Positive Crossover | Bullish
• MA 50: 17694.55 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 57.22| Buy Zone| Buy

Stochastic Oscillator: 46.05| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 18038.95 | R2: 18408.77
• S1: 17659.89| S2: 17243.85

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17706.12 | Take Profit: 18112.92| Stop Loss: 17447.25.

S&P 500:​

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Daily Index Analysis – Global markets soar, hitting record highs.​

Introduction:​

Across global indices, Asian markets reflect the positive sentiment from Wall Street’s overnight gains. Notable increases include the Hang Seng Index in Hong Kong rising by 2.48%, the Nikkei 225 in Japan up by 0.86%, and the Shanghai composite showing a 1.28% gain. European stocks continue their upward trajectory, boosted by UK retail sales surpassing expectations. Meanwhile, Wall Street wraps up the session with gains, driven by optimism sparked by a significant retail sales decline, raising hopes for potential future rate cuts by the Federal Reserve.

Market In Focus For Today – Dow Jones​

The Dow Jones experienced an upswing driven by increasing interest in financial and industrial stocks.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 38669.34 | Positive Crossover | Bullish
• MA 20: 38674.02 | Positive Crossover | Bullish
• MA 50: 38549.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 38562.12 | Positive Crossover | Bullish
• MA 20: 38674.01| Positive Crossover | Bullish
• MA 50: 38549.32 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 58.51| Buy Zone| Buy

Stochastic Oscillator: 81.43| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 39013.33 | R2: 39534.75
• S1: 38231.22| S2: 37479.77

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38323.23 | Take Profit: 38875.31| Stop Loss: 37985.84.

S&P 500:​

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Daily Index Analysis – Keep track of market, and tech turmoil.​

Introduction:​

In the indices market, Asian shares grapple for momentum as China re-enters with subdued energy. The Shanghai Composite rises 1.56%, while Hong Kong’s Hang Seng Index drops 1.13%. European stocks pause nearing record levels. Meanwhile, on Wall Street, a decline ensues as robust producer price data dampens expectations for Federal Reserve interest rate cuts.

Market In Focus For Today – Nasdaq 100​

NASDAQ remains relatively unchanged as traders concentrate on profit-taking in the technology sector.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17811.77 | Negative Crossover | Bearish
• MA 20: 17862.00 | Negative Crossover | Bearish
• MA 50: 17730.30 | Positive Crossover | Bullish

Simple:​

• MA 5: 17845.12 | Negative Crossover | Bearish
• MA 20: 17862.02| Negative Crossover | Bearish
• MA 50: 17730.42 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 47.21| Buy Zone| Buy

Stochastic Oscillator: 22.14| Sell Zone | Negative

Resistance And Support Levels:​

• R1: 39013.33 | R2: 39534.75
• S1: 38231.22| S2: 37479.77

Overall Sentiment: Neutral | Market Direction: Sell​

Trade Suggestion: Stop Sell: 17684.08 | Take Profit: 17259.36| Stop Loss: 17949.52.

S&P 500:​

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Daily Index Analysis – Navigate market shifts and China’s impact.​

Introduction:​

In the global indices landscape, Asian stocks encounter challenges despite China’s rate cut. Shanghai Composite saw a modest gain, while European markets showed mixed results following China’s unexpected rate adjustment. U.S. stock futures dipped after the long weekend, with attention on Nvidia’s earnings and the Federal Reserve’s minutes release, influencing discussions on inflation and interest rates.

Market In Focus For Today – Dow Jones​

Tuesday saw a decline in U.S. stock futures as investors anticipated a week that would include Nvidia’s corporate earnings and the minutes from the most recent monetary policy meeting. The Dow Jones Industrial Average fell 0.3%.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 38658.01 | Negative Crossover | Bearish
• MA 20: 38631.75 | Negative Crossover | Bearish
• MA 50: 38613.47 | Positive Crossover | Bullish

Simple:​

• MA 5: 38708.02 | Negative Crossover | Bearish
• MA 20: 38631.82| Negative Crossover | Bearish
• MA 50: 38613.05 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 48.98| Buy Zone| Buy

Stochastic Oscillator: 46.6| Buy Zone | Negative

Resistance And Support Levels:​

• R1: 38925.81 | R2: 39302.43
• S1: 38580.57| S2: 38109.80

Overall Sentiment: Neutral | Market Direction: Sell​

Trade Suggestion: Stop Sell: 38643.34 | Take Profit: 38277.18| Stop Loss: 38925.81.

S&P 500:​

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Daily Index Analysis – Markets surge, FTSE falters, DAX shines.​

Introduction:​

In the indices market update, Asian stocks generally rise despite a slowdown in China’s factory activity. Key movements include the Shanghai Composite up 0.32% and Japan’s Nikkei 225 climbing 0.50%. Meanwhile, European stocks see gains driven by global optimism and inflation concerns. In the U.S., stock futures remain steady after the Nasdaq Composite broke its 2021 record, setting the stage for continued upward momentum.

Market In Focus For Today – Nasdaq 100​

The Nasdaq 100 achieved all-time highs amid a decline in the US dollar and weakening Treasury yields.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 18186.81 | Positive Crossover | Bullish
• MA 20: 18061.44 | Positive Crossover | Bullish
• MA 50: 17914.34 | Positive Crossover | Bullish

Simple:​

• MA 5: 18136.46 | Positive Crossover | Bullish
• MA 20: 18061.32| Positive Crossover | Bullish
• MA 50: 17914.28 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 67.34| Buy Zone| Buy

Stochastic Oscillator: 96/06| Buy Zone | Neutral

Resistance And Support Levels:​

• R1: 18376.65 | R2: 18755.76
• S1: 17867.38| S2: 17376.92

Overall Sentiment: Positive | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17950.67 | Take Profit: 18376.35| Stop Loss: 17700.81.

S&P 500:​

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Daily Index Analysis – Global indices volatile, tech stocks tumble.​

Introduction:​

Asian markets display mixed results following Wall Street’s recent downturn. While the Shanghai Composite rises by 0.28%, Singapore’s MSCI climbs 1.93%, and Hong Kong’s Hang Seng Index gains 1.70%. In Europe, major stock markets stabilize amid diverse Asian performances. Meanwhile, U.S. stocks experience a notable decline, coinciding with record highs for both bitcoin and gold, prompting scrutiny from investors ahead of economic data releases and central bank actions.

Market In Focus For Today – Nasdaq 100​

Nasdaq Composite experiences a dip as technology stocks face downward pressure.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 18123.55 | Positive Crossover | Bullish
• MA 20: 18101.93 | Positive Crossover | Bullish
• MA 50: 17936.07 | Positive Crossover | Bullish

Simple:​

• MA 5: 18199.52 | Negative Crossover | Bearish
• MA 20: 18101.35| Positive Crossover | Bullish
• MA 50: 17935.07 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 54.63| Buy Zone| Buy

Stochastic Oscillator: 12.5| Sell Zone | Negative

Resistance And Support Levels:​

• R1: 18375.84 | R2: 18690.99
• S1: 17848.87| S2: 17376.92

Overall Sentiment: Positive | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17932.16 | Take Profit: 18320.83| Stop Loss: 17691.55.

S&P 500:​

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