News and Trade Ideas (Indices)

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Dow and Nasdaq 100 rise but Nikkei 225 hits a speed bump

US indices continue their recovery from recent lows, but the Nikkei 225 has been hit by volatility in the yen.

Source: Getty Images

Written by: Chris Beauchamp | Chief Market Analyst, London

 

Publication date: Tuesday 30 April 2024 13:36

Dow back above 100-day moving average

The index continues to recover from last week’s low and managed to move above Friday’s high in Monday’s trading.

Additional gains target last week’s high around 38,600, and then on to the 50-day simple moving average (SMA), currently 38,780. Beyond this lies 39,000, and then to the March highs at 40,000.

Sellers will need a close below Friday’s low at 37,750 to suggest a retest of the April low.

Source: ProRealTime

Nasdaq 100 hits two-week high

This index continues to rally despite the ups and downs of Big Tech’s moment in the earnings season spotlight.

The price action continues to lean bullish, with a fresh high on Monday maintaining the bounce from the low of mid-April. Additional gains above 17,800 open the way to the 50-day SMA and then on to the highs of March and April around 18,350.

Sellers will need a close back below 17,300 to suggest another retest of the 17,000 lows of mid-month.

Source: ProRealTime

Nikkei 225 struggles on yen volatility

A resurgent yen has hit the Nikkei 225, knocking it back from its highs of the session on Monday.

While the bounce from the lows of April around 37,000 is still intact, buyers will need a revival above 38,300 to put them back in charge.

A close back below the 100-day SMA (currently 38,031), might raise the prospect of a renewed push back to 37,000.

Source: ProRealTime

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FTSE 100 makes yet another record high while DAX and S&P 500 rally is slowing down

Outlook on FTSE 100, DAX and S&P 500 ahead of Thursday’s BoE monetary policy meeting.

Source: Getty Images

Written by: Axel Rudolph FSTA | Senior Financial Analyst, London

 

Publication date: Wednesday 08 May 2024 13:37

FTSE 100 hits yet another record high

The FTSE 100 has so far seen four straight days of gains with each making a new record high ahead of this morning’s, the fifth day in a row around the 8,350 mark. Further up beckons the 8,500 region.

The tentative April-to-May uptrend line at 8,280 offers support.

Source: ProRealTime

DAX 40 trades in one-month high

The DAX 40 has seen four straight days of gains take it to a one-month high around the 18,450 level with the April record high at 18,636 representing the next upside target.

Potential slips should find good support between the 24 and 29 April highs at 18,240 and 18,238.

Source: ProRealTime

S&P 500 see five straight days of gains

The S&P 500’s 3.5% rally from its early May low amid five consecutive days of gains has taken it to the 5,200 mark around which it may short-term lose upside momentum. A slip towards the 5,132 to 5,123 55-day simple moving average (SMA) and the late April high might be on the cards for this week.

Were the recent advance to continue, though, the April record high at 5,274 would be back in the frame.

Source: ProRealTime

[MongiIG]

Dow and Nasdaq 100 trim gains and Nikkei 225 comes under pressure

US indices continue to make headway overall, but the Nikkei 225 has struggled in recent sessions.

Source: Getty Images

Written by: Chris Beauchamp | Chief Market Analyst, London

 

Publication date: Thursday 09 May 2024 13:41

Dow rallies through 39,000

The index continued to make gains on Wednesday, moving above 39,000 and putting itself on a renewed course to test the record highs just below 40,000 after Tuesday’s indecisive session.

A higher low was formed in mid-April, and with buyers stepping in at month-end to defend the 37,820 level, the overall picture continues to support the case for further upside.

A close back below 38,200 would negate this view and suggest another test of the late April low.

Source: ProRealTime

Nasdaq 100 edging down

This index was unable to push on through Tuesday’s high, though buyers did step in to defend the lows and prevent a move below the 50-day simple moving average (SMA).

The index is now within easy distance of the highs seen in March and April just below 18,500. Above this would see the price in new record high territory.

A close back below 17,700 would begin to suggest that a new push lower is underway.

Source: ProRealTime

Nikkei 225 heads lower

The rebound from the lows of April has been stopped in its tracks over the past two sessions.

Despite a weakening yen, the Nikkei 225 has hit some selling pressure, and the rally from the April low has stalled below 39,000 and the 50-day SMA.

A close back above 39,000 would help to revive the bullish view, and swiftly bring about a test of trendline resistance from the March highs. Trendline support from the April low comes into play around 38,000.

Source: ProRealTime

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FTSE 100 joined by DAX 40 in setting new record high while S&P 500 also rallies

Outlook on FTSE 100, DAX and S&P 500 as UK exits recession.

Source: Getty Images

Written by: Axel Rudolph FSTA | Senior Financial Analyst, London

 

Publication date: Friday 10 May 2024 13:30

FTSE 100 has so far seen six straight days of record highs

The FTSE 100 has so far seen six straight days of gains with each making a new record high and may see a seventh on Friday as the UK exits its 2023 recession with better-than-expected 0.6% quarter-over-quarter GDP growth.

The psychological 8,500 mark represents the next upside target while the April-to-May uptrend line at 8,362 underpins.

Source: ProRealTime

DAX 40 trades in new record highs

The DAX 40 has so far seen six consecutive days of gains which have taken it to a new record high on Friday morning with the 19,000 region being targeted.

Minor support can be spotted at the previous record high, made in April at 18,636.

Source: ProRealTime

S&P 500 trades in one-month highs

The S&P 500’s 4% rally from its early May low has taken it above the 5,200 mark, close to the 10 April high at 5,234. Above it lies the April record high at 5,274.

Potential slips may encounter support at the 5,200 mark, hit on Tuesday, and at Wednesday’s 5,164 low.

Source: ProRealTime

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FTSE 100, DAX 40 and S&P 500 head back towards record highs

Outlook on FTSE 100, DAX 40 and S&P 500 amid BoE and Fed talk.

Source: Getty Images

Written by: Axel Rudolph FSTA | Senior Financial Analyst, London

 

Publication date: Monday 20 May 2024 13:38

FTSE 100 tries to reach last week’s record highs

The FTSE 100 is gunning for last week’s record high at 8,479 with the psychological 8,500 mark remaining in sight as several Bank of England (BoE) members will be speaking in the course of this week.

Upside pressure will be maintained while last week’s low at 8,393 underpins on a daily chart closing basis.

Source: ProRealTime

DAX 40 consolidates below record high

Last week the DAX 40 hit a record high close to the minor psychological 19,000 mark before slipping and forming a bearish engulfing pattern on the daily candlestick chart which was followed by a drop to Friday’s low at 18,627. This increased the likelihood of at least a short-term bearish reversal being seen over the coming days, even though on Monday a minor recovery rally is currently taking place.

Since last week’s high hasn’t been accompanied by a higher reading of the daily Relative Strength Index (RSI), negative divergence can be seen. It may lead to a several hundred points sell-off taking the index back to its April-to-May uptrend line at 18,464. For this scenario to become more probable a fall through last week’s low at 18,623 would need to be seen, though.

Source: ProRealTime

S&P 500 eyes last week’s record high

The S&P 500’s rally from its early May low has taken it to last week’s record high at 5,326 before pausing amid Fed comments making it clear that the battle against inflation hasn’t been won yet. Further Fed commentary by several voting members is in the pipeline for Monday.

The previous record high made in April at 5,274 acted as support on Friday when the S&P 500 dipped to 5,284 before heading back up again.

As long as the accelerated uptrend line at 5,286 holds, upside pressure should remain in play.

Were a new all-time high to be made, the 5,350 region would be in focus.

Source: ProRealTime