News and Trade Ideas (Indices)

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Dow, Nasdaq 100 and Nikkei 225 continue their rally

Indices have made further gains, though at a slower pace than in recent sessions, with yesterday’s US data providing more good news on inflation.

Source: Bloomberg

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 16 November 2023 12:25

Dow returns to 35,000

The index is back at the 35,000 area, the highs from early September. The past three weeks have seen the market make huge gains, with no sign of a reversal yet in view. A close above 35,100 would then open the way to the July highs at 35,650. A short-term drop might find support around the 100-day SMA, or further down towards 34,000.

Source: ProRealTime

Nasdaq 100 hits new 2023 high

Wednesday’s session briefly saw the index touch the highest level since the beginning of 2022. The surge from the 200-day SMA has witnessed a 13% gain for the index, breaking out of the summer descending channel and opening the way to more upside in the direction of the 2022 highs towards 16,600. Short-term support might be found around 15,500, the August highs, and then down towards the 100-day SMA.

Source: ProRealTime

Nikkei 225 reaches trendline resistance

November’s rally has carried the index back to trendline resistance from the June highs. There may be some volatility around this area, which is close to the September lower high, but a close above 33,700 would open the way to the 34,000 highs of June. In the short-term, the mid-October highs around 32,500 might provide some support if a pullback develops.

Source: ProRealTime

[MongiIG]

FTSE 100, DAX 40 and Nasdaq pause after three weeks of strong gains

Outlook on FTSE 100, DAX 40 and Nasdaq 100 as earnings season draws to a close.

Source: Bloomberg

 Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Monday 20 November 2023 13:34

FTSE 100 nears last week’s high

Despite disappointing UK retail sales, which last week slid to their lowest level since the 2021 COVID-19 lockdown, the FTSE 100 remains on track to reach last week’s high at 7,535 amid an empty economic calendar on Monday. The 55-day simple moving average (SMA) at 7,503 may act as short-term resistance on the way up but once it and the 7,535 peak have been exceeded, the 200-day simple moving average (SMA) at 7,600 will be in focus. Minor support can be found around the 9 November high at 7,466. Further down lies Thursday’s 7,430 low, followed by the early September and early October lows at 7,384 to 7,369.

Source: ProRealTime

DAX 40 gunning for 16,000 mark

The DAX 40 continues to advance towards the psychological 16,000 mark as German October producer prices come in at -0.1% month-on-month as forecast. The index has so far seen nine consecutive days of gains and is approaching the August and September highs at 15,992 to 16,044 which may short-term cap. Minor support below Thursday’s high at 15,867 can be found at Thursday’s 15,710 low. Further down meanders the 200-day simple moving average at 15,664.

Source: ProRealTime

Nasdaq 100 consolidates below the 15,932 July peak

The Nasdaq 100’s 12% rally off its late October low has last week briefly taken the index to slightly above its July high at 15,932, to 15,978, before consolidating amid profit taking ahead of this week’s Zoom and Nvidia earnings results. While the July and current November highs at 15,932 to 15,978 cap, Thursday’s low at 15,736 might be retested. Stronger support can be seen between the 15,628 to 15,520 early to mid-September highs. A rise above 15,978 would put the December 2021 high at 16,660 into the frame.

Source: ProRealTime

[MongiIG]

Dow, Nikkei 225 and CAC40 continue to make gains

The Dow is at its highest level since the summer, while the Nikkei 225 is contemplating more gains to take it to a multi-decade peak, and the CAC40 has regained the 200-day moving average.

Source: Bloomberg

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 21 November 2023 12:15

Dow above August and September highs

The index has surged through the 35,000 level, reaching its highest level since the end of August. The next target is the high from July around 35,680, and would mark the complete recovery of the losses sustained since the end of July. From here the February 2022 high at 35,860 is the next level to watch, and then beyond that comes 36,465 and then the 2022 high 36,954. It would need a move back below the 100-day SMA to put a more substantial dent in the overall bullish view.

Source: ProRealTime

Nikkei 225 knocks on the door of June highs

Monday witnessed the index move to its highest level since the beginning of June. This puts the price above trendline resistance from the June highs, and marks a step-change after the failure to break higher seen in September. Resistance may now becomes support, and the 34,000 level beckons. Such impressive gains in the short-term may put some pressure on the index, but as with the Dow, a reversal below the 100-day SMA would be a necessary first step to dispelling the bullish view.

Source: ProRealTime

CAC40 back at 200-day MA

The index has returned to the 200-day SMA for the first time since mid-September. It has been able to move and hold above the 100-day SMA, and more importantly has moved back above the 7170 area that marked resistance in September and October. This clears the way for a move towards 7400, where rallies in August and September were stalled. Some consolidation back down towards the 50-day SMA could be envisaged, and the index could still create a lower high, with a close below the 50-day SMA suggesting that sellers are in the process of reasserting control.

Source: ProRealTime

[MongiIG]

FTSE 100, S&P 500 and Russell 2000 consolidate ahead of Thanksgiving

Outlook on FTSE 100, S&P 500 and Russell 2000 as US earnings season draws to a close.

Source: Bloomberg

 Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 22 November 2023 12:06

FTSE 100 consolidates below last week’s high

The FTSE 100’s recent attempts to reach last week’s high at 7,535 have so far failed with the index being capped by the 55-day simple moving average (SMA) at 7,505 as US futures and Asian stocks mostly decline after Nvidia earnings which practically mark the end of the US earnings season ahead of Thanksgiving. While the UK blue chip index remains above Tuesday’s 7,446 low, it remains in an uptrend, though, and is more likely to revisit Friday’s 7,516 high than to revert lower. Further up beckons the current November peak at 7,535, a rise above which would target the 200-day simple moving average (SMA) at 7,595. Minor support can be found around the 9 November high at 7,466 ahead of Tuesday’s 7,446 low. Further down lies Thursday’s 7,430 low, followed by the early September and early October lows at 7,384 to 7,369.

Source: ProRealTime

S&P 500 advance stalls around the September peak at 4,540

The sharp rally in the S&P 500 has reached the early and mid-September highs at 4,516 to 4,540 around which it is losing upside momentum after Fed minutes showed no inclination to cut rates by next May. A minor pullback ahead of the prolonged Thanksgiving weekend may thus ensue with the mid-November high at 4,524 being revisited. Further minor support sits at the 11 September high at 4,491 and still further down around the 24 August high at 4,474. A rise above this week’s 4,557 high would put the 4,607 July high on the cards.

Source: ProRealTime

Russell 2000 range trades below its 1,833 current November high

The Russell 2000, the great underperformer of US stock indices with only a 2% positive performance year-to-date, has been trading in a tight sideways range below its 200-day simple moving average (SMA) and last week’s high at 1,822 to 1,833 ahead of Thanksgiving. While Thursday’s low at 1,767 underpins, the October-to-November uptrend remains intact. Below it the 55-day simple moving average (SMA) at 1,757 may also act as support, were it to be revisited. Immediate resistance can be seen at Monday’s 1,813 high. A rise above the current 1,833 high would engage the mid-September high at 1,874.

Source: ProRealTime

[MongiIG]

DAX 40, Nasdaq 100 on track for fourth straight week of gains while FTSE 100 lags

Outlook on FTSE 100, DAX 40 and Nasdaq 100 amid low volume Thanksgiving holiday trading.

Source: Bloomberg

 Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 November 2023 11:14

FTSE 100 continues to be side-lined

The FTSE 100 continues to be range bound below the 55-day simple moving average (SMA) at 7,505. Despite UK consumer confidence rising in November a negative bias has been seen since the start of the day. While the UK blue chip index stays above Tuesday’s 7,446 low, it remains within a gradual uptrend, targeting last Friday’s 7,516 high. If overcome, the current November peak at 7,535 will be eyed ahead of the 200-day simple moving average (SMA) at 7,589. Below Tuesday’s 7,446 low minor support can be seen around last Thursday’s low at 7,430, and the early September and early October lows at 7,384 to 7,369.

Source: ProRealTime

DAX 40 continues to flirt with the 16,000 mark

The DAX 40 continues to play with the psychological 16,000 mark despite Germany's economy contracting 0.1% in the third quarter, reversing its 0.1% growth in the previous quarter, ahead of today's IFO business climate index. The August and September highs at 15,992 to 16,044 continue to act as a short-term resistance zone which caps. Minor support below Thursday’s high at 15,867 can be made out at last Thursday’s 15,710 low. Further down meanders the 200-day simple moving average at 15,673.

Source: ProRealTime

Nasdaq 100 consolidates below its recent near two-year high

The Nasdaq 100’s stiff rally off its late October low has this week briefly taken the index to 16,126, a level last traded in January 2022, before consolidating in low volume ahead of the prolonged Thanksgiving weekend. With US markets shut for the second half of the day, the index is expected to trade in very little volume within a tight range but remains on track for its fourth straight week of gains. The July high at 15,932 offers potential support while Monday’s 16,065 high may cap. A rise into year-end above 16,126 would put the December 2021 high at 16,660 on the map.

Source: ProRealTime

[MongiIG]

FTSE 100, DAX 40 and S&P 500 begin week on a quiet note

Outlook on FTSE 100, DAX 40 and S&P 500 following Thanksgiving weekend.

Source: Bloomberg

 Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Monday 27 November 2023 11:48

FTSE 100 remains side-lined

Last week the FTSE 100 traded sideways below the 55-day simple moving average (SMA) at 7,505 and this week is expected to continue to do so, at least for a few more days. While the UK blue chip index stays above Tuesday’s 7,446 low, though, it remains within a gradual uptrend, targeting its recent 7,516 high. If bettered, the current November peak at 7,535 will be in focus ahead of the 200-day simple moving average (SMA) at 7,587. Below Tuesday’s 7,446 low, minor support can be seen around the mid-November low at 7,403 and the early September and early October lows at 7,384 to 7,369.

Source: ProRealTime

DAX 40 continues to play with the 16,000 mark

The DAX 40 continues to flirt with the psychological 16,000 mark ahead of Germany’s consumer confidence data, out on Tuesday. The August and September highs at 15,992 to 16,044 thus continue to act as a short-term resistance zone. If overcome, the early and mid-July highs at 16,187 to 16,211 would be targeted next. Minor support is seen around last Monday’s high at 15,955 and at Tuesday’s 15,880 low.

Source: ProRealTime

S&P 500 consolidates below its current 4,569 November peak

The sharp November rally in the S&P 500 has lost upside momentum amid the Thanksgiving holiday with little volume being traded, something which may continue on Cyber Monday as the economic calendar looks light with US new homes sales and the Dallas Fed manufacturing index. Resistance is seen at the current November peak at 4,569 and immediate support at Wednesday’s 4,535 low. Further potential support can be spotted at the 4,524 mid-November high. Only a currently unexpected rise above the recent 4,569 high could put the July peak at 4,607 on the cards.

Source: ProRealTime

[MongiIG]

Dow, Nasdaq 100 and Nikkei 225 look for further gains

Indices remain in strong form on the final day of November, and are looking to extend their recent gains into December.

Source: Bloomberg

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 30 November 2023 11:51

Dow on the up once more

The rally has recovered this week, cancelling out expectations of at least a short-term pullback. The July highs at 35,690 are now just a short distance away, and a move back here would mark the recovery of all the summer and early Autumn losses. Above this the next target is 35,860, and then on to the record high at 36,954. Once more any hope of a pullback has been dashed, with little sign at present in price action that one is at hand. It would need a close back below 35,300 to suggest that one may be close.

Source: ProRealTime

Nasdaq 100 holds around 16,000

The price is consolidating around the 16,000 level, having surpassed the July high in mid-November. For a short-term bearish view, the price would need to reverse course and head back below 15,760. This might then see a reversal towards the October highs at 15,330. Having cleared 16,000, the index’s next hurdle to the upside would be 16,630, the record highs from 2021.

Source: ProRealTime

Nikkei 225 rallies off support

After dropping back towards 33,000, the index has moved higher, holding support for the time being. Renewed gains above last week’s high (33,800) once more leave the index on course to hit the June high at 34,000. Beyond this lies the 1989 high at 38,957. Sellers would need a renewed close below 33,120 to suggest a new attempt to push lower is underway.

Source: ProRealTime

[MongiIG]

FTSE 100, DAX 40 and S&P 500 remain bid as inflation slows

Outlook on FTSE 100, DAX 40 and S&P 500 following a strong November.

Source: Bloomberg

 Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 01 December 2023 12:32

FTSE 100 ends month in positive territory

The FTSE 100 slid to 7,383 on Thursday before reversing to the upside as inflation continues to weaken in the eurozone. The 55-day simple moving average (SMA) at 7,494 capped and is doing so once more on Friday morning. Once overcome, the 17 November high at 7,516 will be in focus, together with the 7,535 November high. Minor support is found at the 21 November low at 7,446.

Source: ProRealTime

DAX 40 continues to surge ahead as eurozone inflations weakens

The DAX 40 continues to surge ahead as eurozone inflation came in weaker-than-expected on Thursday with the July peak at 16,532 being in sight. Minor resistance on the way up can be spotted at the 16,421 31 July low. Support below Friday’s intraday low at 16,236 is seen at Thursday’s 16,165 low. More significant support can be found between the August and September highs at 16,044 to 15,992.

Source: ProRealTime

S&P 500 sees best November since 1980

The sharp November rally in the S&P 500 has lost upside momentum but the index nonetheless continues to trade in four-month highs as the Fed’s preferred PCE inflation gauge came in as expected at 3% year-on-year in October. November was not only the best performing month for the S&P 500 this year but also the strongest November since 1980. Resistance is found at the November peak at 4,587, followed by the July peak at 4,607. While this week’s lows at 4,539 to 4,537 underpin, the short-term uptrend remains intact. Slightly further down sits potential support at the 4,516 mid-September high.

Source: ProRealTime