BEST INDEX TECHNICAL ANALYSIS BY CAPITAL STREET FX

Weekly Index Analysis – Dow Soars, S&P Records, FTSE Struggles.​


Introduction:​

Asian stocks are poised for a weekly gain, with attention focused on the upcoming US inflation test. The Shanghai composite has risen by 0.14%. Across the region, the Singapore MSCI is up 0.76% at 279.55. European equities have reached a two-year peak, driven by positive economic indicators and strong earnings reports. On Wall Street, there is an uptrend fueled by robust GDP data. The strong start to the year for the US stock market faces a significant challenge next week, with a busy schedule featuring major tech earnings, the Federal Reserve’s monetary policy meeting, and the eagerly awaited employment report.

Market In Focus For The Next Week – Dow Jones​

The Dow Jones advanced amid a broad rally in the equity markets.

TECHNICAL OVERVIEW:​

24-02-03_04-27-16_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38642.70 | Positive Crossover | Bullish
  • MA 20: 38425.32 | Positive Crossover | Bullish
  • MA 50: 38077.36 | Positive Crossover | Bullish

Simple:​

  • MA 5: 38647.07 | Positive Crossover | Bullish
  • MA 20: 38425.37| Positive Crossover | Bullish
  • MA 50: 38077.31 | Positive Crossover | Bullish
RSI (Relative Strength Index): 65.09| Buy Zone| Bullish

Stochastic Oscillator: 46.24| Buy Zone |Positive

Resistance And Support Levels:​

  • R1: 38889.50 | R2: 39572.98
  • S1: 38073.74| S2: 37280.02

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38139.88 | Take Profit: 38889.50| Stop Loss: 37698.93.

S&P 500:​

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Daily Index Analysis – Dow steady, S&P breaks, FTSE rises.​


Introduction:​

In the Asian indices market, stocks face a general decline, notably in China, despite market support efforts. Meanwhile, European shares edge higher driven by positive earnings. The DAX in Germany, CAC 40 in France, and UK 100 show modest gains. U.S. stock futures remain steady, with minimal changes, ahead of a busy week of corporate earnings, influenced by Federal Reserve Chair Jerome Powell’s cautious remarks on interest rate cuts.

Market In Focus For Today – Dow Jones​

The Dow Jones futures are steady, and McDonald’s earnings are ahead.

TECHNICAL OVERVIEW:​

24-02-05_03-04-48_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38654.13 | Positive Crossover | Bullish
  • MA 20: 38475.00 | Positive Crossover | Bullish
  • MA 50: 38113.96 | Positive Crossover | Bullish

Simple:​

  • MA 5: 38660.00 | Positive Crossover | Bullish
  • MA 20: 38476.12| Positive Crossover | Bullish
  • MA 50: 38114.05 | Positive Crossover | Bullish
RSI (Relative Strength Index): 61.23| Buy Zone| Bullish

Stochastic Oscillator: 47.66| Buy Zone | Neutral

Resistance And Support Levels:​

  • R1: 38900.79 | R2: 39472.96
  • S1: 38233.23| S2: 37364.99

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38283.46 | Take Profit: 38900.79| Stop Loss: 37937.15.

S&P 500:​

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Daily Index Analysis – China’s surge, Powell’s hints propel markets, Nasdaq rises.​


Introduction:​

In the indices market, Asian performances are mixed, with China rising after a state fund announced its intent to purchase stocks. The Shanghai composite is up by 3.23%, while European stocks declined due to dashed rate cut expectations leading to higher yields. U.S. stocks also face a downturn as Treasury yields rise following Powell’s suggestion that a March rate cut is improbable.

Market In Focus For Today – Nasdaq 100​

Currently, the NASDAQ 100 lingers near the upper limit of a consolidation range. Sustaining and cultivating upward momentum requires a revival of enthusiasm among traders, a recurring pattern evident in historical market behavior.

TECHNICAL OVERVIEW:​

24-02-06_04-09-40_Nasdaq-100-Index-1024x345.png

Moving Averages:​

Exponential:​

  • MA 5: 17693.47 | Positive Crossover | Bullish
  • MA 20: 17573.28 | Positive Crossover | Bullish
  • MA 50: 17430.18 | Positive Crossover | Bullish

Simple:​

  • MA 5: 17704.24 | Positive Crossover | Bullish
  • MA 20: 17573.20| Positive Crossover | Bullish
  • MA 50: 17430.15 | Positive Crossover | Bullish
RSI (Relative Strength Index): 58.59| Buy Zone| Bullish

Stochastic Oscillator: 95.52| Buy Zone | Neutral

Resistance And Support Levels:​

  • R1: 17761.54 | R2: 17962.58
  • S1: 17495.17| S2: 17263.98

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17510.25 | Take Profit: 17761.54| Stop Loss: 17369.53.

S&P 500:​

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Daily Index Analysis – Dow stumbles, S&P steady, Global indices react.​


Introduction:​

In the global indices market, Asian stocks forge ahead, closely tied to China’s stability measures. However, the Shanghai composite faces a 1.44% decline. European markets, on the other hand, experienced a downturn due to dashed hopes of a rate cut, leading to increased yields. Simultaneously, stock futures worldwide exhibit minimal shifts as investors scrutinize the latest quarterly results during the midpoint of the corporate earnings season.

Market In Focus For Today – Dow Jones​

On Monday, stocks declined as a surge in Treasury yields raised worries about the Federal Reserve potentially not implementing as significant rate cuts as anticipated. The Dow Jones Industrial Average dropped 274.30 points, or 0.71%, to settle at 38,380.12.

TECHNICAL OVERVIEW:​

24-02-07_02-59-48_Dow-Jones-Index-1024x345.png

Moving Averages:​

Exponential:​

  • MA 5: 38586.80 | Positive Crossover | Bullish
  • MA 20: 38544.28 | Positive Crossover | Bullish
  • MA 50: 38215.44 | Positive Crossover | Bullish

Simple:​

  • MA 5: 38552.01 | Positive Crossover | Bullish
  • MA 20: 38544.20| Positive Crossover | Bullish
  • MA 50: 38215.44 | Positive Crossover | Bullish
RSI (Relative Strength Index): 58.24| Buy Zone| Bullish

Stochastic Oscillator: 48.15| Buy Zone | Positive

Resistance And Support Levels:​

  • R1: 38789.90 | R2: 39238.10
  • S1: 38279.45| S2: 37831.25

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38341.70 | Take Profit: 38789.90| Stop Loss: 38042.90.

S&P 500:​

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Daily Index Analysis – Nasdaq soars, S&P breaks records.​


Introduction:​

Global markets show mixed performance as Asian stocks rise, led by SoftBank boosting Japan’s rally while China faces a slowdown. European stocks decline, influenced by drops in the oil, mining, and retail sectors. In the US, stocks climb amid positive earnings and Federal Reserve comments on interest rates, creating a varied landscape in the indices market.

Market In Focus For Today – Nasdaq 100​

The NASDAQ 100 experienced a slight rally leading into Wednesday’s cash session, reflecting ongoing upward pressure in the market.

TECHNICAL OVERVIEW:​

24-02-07_22-16-50_Nasdaq-100-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 17751.41 | Positive Crossover | Bullish
  • MA 20: 17268.02 | Positive Crossover | Bullish
  • MA 50: 17536.51 | Positive Crossover | Bullish

Simple:​

  • MA 5: 17746.95 | Positive Crossover | Bullish
  • MA 20: 17628.20| Positive Crossover | Bullish
  • MA 50: 17536.09 | Positive Crossover | Bullish
RSI (Relative Strength Index): 64.51| Buy Zone| Bullish

Stochastic Oscillator: 96.08| Buy Zone | Positive

Resistance And Support Levels:​

  • R1: 17860.96 | R2: 18264.31
  • S1: 17444.59| S2: 17041.24

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17392.55 | Take Profit: 17860.96| Stop Loss: 17132.32.

S&P 500:​

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Daily Index Analysis – Dow, S&P, FTSE, Euro & Asian.​


Introduction:​

In the global indices market, Asian markets showcase positive momentum following Wall Street’s overnight gains. Meanwhile, European shares encountered a downturn, led by declining bank and energy stocks. Key futures contracts indicate mixed sentiments, with the DAX slightly up, the CAC 40 down, and the UK 100 holding a modest gain. On Wall Street, indexes maintain near-record levels as investors react to earnings reports, robust U.S. job data, and a strengthening U.S. dollar, particularly the S&P nearing the noteworthy 5,000-point mark.

Market In Focus For Today – Dow Jones​

The Dow Jones index rebounded from its intraday lows, buoyed by a robust surge in Disney stock.

TECHNICAL OVERVIEW:​

24-02-09_03-39-50_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38731.75 | Positive Crossover | Bullish
  • MA 20: 38641.15 | Positive Crossover | Bullish
  • MA 50: 38733.51 | Positive Crossover | Bullish

Simple:​

  • MA 5: 38710.07 | Positive Crossover | Bullish
  • MA 20: 38640.10| Positive Crossover | Bullish
  • MA 50: 38777.00 | Positive Crossover | Bullish
RSI (Relative Strength Index): 64.83| Buy Zone| Bullish

Stochastic Oscillator: 94.74| Buy Zone | Neutral

Resistance And Support Levels:​

  • R1: 38852.75 | R2: 39229.46
  • S1: 38430.09| S2: 37989.06

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38466.84 | Take Profit: 38852.75| Stop Loss: 38227.95.

S&P 500:​

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Weekly Index Analysis – Tokyo soars, Europe slumps. Wall Street triumphs.​


Introduction:​

In the dynamic world of global indices, Friday saw a surge in Asian stocks, notably Tokyo’s index hitting a 34-year high. Meanwhile, European markets faced a third consecutive decline, but Wall Street celebrated as the S&P 500 triumphantly closed above 5,000, setting a new record and ending the week on a high note.

Market In Focus For The Next Week – Dow Jones​

On Friday, Dow Jones experienced a decline, as there was a lack of buyer interest in defensive sectors.

TECHNICAL OVERVIEW:​

24-02-10_03-25-28_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38736.46 | Negative Crossover | Bearish
  • MA 20: 38665.22 | Positive Crossover | Bullish
  • MA 50: 38400.36 | Positive Crossover | Bullish

Simple:​

  • MA 5: 38739.85 | Negative Crossover | Bearish
  • MA 20: 38665.22| Positive Crossover | Bullish
  • MA 50: 38400.31 | Positive Crossover | Bullish
RSI (Relative Strength Index): 56.95| Buy Zone| Bullish

Stochastic Oscillator: 74.38| Buy Zone | Positive

Resistance And Support Levels:​

  • R1: 38950.97 | R2: 39512.70
  • S1: 38223.27| S2: 37355.15

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38299.87 | Take Profit: 38950.97| Stop Loss: 37891.34.

S&P 500:​

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Daily Index Analysis – S&P 500 breaks records, cautious markets.​


Introduction:​

In the global indices market, Asian stocks show little movement amid reduced trading activity due to holidays. Shanghai composite gains 1.28%, Singapore MSCI rises 0.84%, while Hong Kong’s Hang Seng Index dips 0.83%. European stocks edge higher cautiously, with Germany’s DAX and France’s CAC 40 futures up. Meanwhile, U.S. stock futures remain stable after a record-setting week for the S&P 500.

Market In Focus For Today – Dow Jones​

Early on Monday, U.S. stock futures remained close to the neutral zone. Dow Jones Industrial Average futures experienced a slight decline of 30 points or 0.1%

TECHNICAL OVERVIEW:​

24-02-12_04-31-45_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38730.75 | Negative Crossover | Bearish
  • MA 20: 38674.15 | Positive Crossover | Bullish
  • MA 50: 38744.51 | Negative Crossover | Bearish

Simple:​

  • MA 5: 38763.03 | Positive Crossover | Bullish
  • MA 20: 38674.62| Positive Crossover | Bullish
  • MA 50: 38745.00 | Positive Crossover | Bullish
RSI (Relative Strength Index): 56.05| Buy Zone| Bullish

Stochastic Oscillator: 32.81| Sell Zone | Negative

Resistance And Support Levels:​

  • R1: 38881.95 | R2: 39302.16
  • S1: 38409.22| S2: 37915.47

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38461.74 | Take Profit: 38881.95| Stop Loss: 38220.12.

S&P 500:​

READ THE FULL REPORT VISIT US - CAPITAL STREET FX​

 

Daily Index Analysis – Global markets soar, Nasdaq breaks records.​


Introduction:​

In Asian markets, shares an advance of the US inflation report, with China observing a holiday. Notably, the Shanghai composite rises by 1.28%. Meanwhile, major European indices show mixed movements at the start of the trading session. As Wall Street awaits the inflation data, stock futures slip following a recent Dow record.

Market In Focus For Today – Nasdaq 100​

Monday afternoon saw the Nasdaq briefly exceeding its previous record closing high from November 2021 before experiencing a decline.

TECHNICAL OVERVIEW:​

24-02-13_02-42-55_Nasdaq-100-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 17919.25 | Negative Crossover | Bearish
  • MA 20: 17847.24 | Positive Crossover | Bullish
  • MA 50: 17670.76 | Positive Crossover | Bullish

Simple:​

  • MA 5: 17949.33 | Negative Crossover | Bearish
  • MA 20: 17846.03| Positive Crossover | Bullish
  • MA 50: 17670.87 | Positive Crossover | Bullish
RSI (Relative Strength Index): 54.32| Buy Zone| Bullish

Stochastic Oscillator: 22.81| Sell Zone | Negative

Resistance And Support Levels:​

  • R1: 18117.54 | R2: 18431.88
  • S1: 17710.74| S2: 17276.21

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17756.97 | Take Profit: 18117.54| Stop Loss: 17544.32.

S&P 500:​

READ THE FULL REPORT VISIT US - CAPITAL STREET FX​

 

Daily Index Analysis – Global markets tumble, U.S. inflation soars.​


Introduction:​

“In the global indices market, the aftermath of soaring U.S. inflation data is felt across most Asian markets, with declines witnessed in key indices. Meanwhile, the Shanghai composite bucks the trend with a 1.28% gain. In Europe, stock markets witness an upswing as the UK’s inflation rate retreats. Conversely, U.S. stocks face a decline on Tuesday as worse-than-expected inflation data dispels hopes for a May interest rate cut, shaping a complex landscape in international financial markets.”

Market In Focus For Today – Dow Jones​

Dow plunges 500 points, marking its most significant decline since March 2023, following a robust inflation report.

TECHNICAL OVERVIEW:​

24-02-14_03-46-01_Dow-Jones-Index-1024x344.png

Moving Averages:​

Exponential:​

  • MA 5: 38555.70 | Negative Crossover | Bearish
  • MA 20: 38650.67 | Negative Crossover | Bearish
  • MA 50: 38480.25 | Negative Crossover | Bearish

Simple:​

  • MA 5: 38268.85 | Negative Crossover | Bearish
  • MA 20: 38650.67| Negative Crossover | Bearish
  • MA 50: 38480.55 | Negative Crossover | Bearish
RSI (Relative Strength Index): 42.8| Neutral Zone| Neutral

Stochastic Oscillator: 5.23| Sell Zone | Negative

Resistance And Support Levels:​

  • R1: 38859.88 | R2: 39412.06
  • S1: 38231.22| S2: 37387.75

Overall Sentiment: Bearish | Market Direction: Sell​

Trade Suggestion: Limit Sell: 38445.91 | Take Profit: 37817.15| Stop Loss: 38859.98.

S&P 500:​

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