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S&P 500, Nasdaq 100 Latest as Ukraine/Russia Crisis Continues to Dominate Risk Assets


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S&P 500 and Nasdaq 100: Prices, Charts, and Analysis

  • Geopolitical risk remains the top driver of risk sentiment.
  • US indices in positive territory in the European session.
Nasdaq 100 (NDX) to S&P 500 (SPX) Ratio Is the Highest since Early 2000s

The situation in Eastern Europe remains highly volatile with nearly 150,000 Russian troops stationed on the Ukraine border while a war of words continues to play out in the media. Tensions between Russia, Ukraine, and NATO remain heightened and against this backdrop risk assets are unlikely to move higher and will continue to be pressured to the downside.

How to Short Sell a Stock When Trading Falling Markets

The S&P 500 closed 2.1% lower Thursday, reversing a mid-week rally, with losses seen across the board. The indices is currently 0.50% higher in pre-US trade but the move lacks conviction with the 20-day simple moving average (red line) acting as resistance again after providing support earlier this month. A break below Monday’s 4,359 low opens the way for a re-test of 4,271, a horizontal line of support that held firm and provoked a rebound in early October and late January this year.

S&P 500 DAILY PRICE CHART – FEBRUARY 18, 2022

S&P 500, Nasdaq 100 Latest as Ukraine/Russia Crisis Continues to Dominate Risk Assets

 

The Nasdaq 100 closed nearly 3% lower on Thursday as a combination of political risk and the negative impact of higher interest rates pushed a wide range of growth stocks sharply lower. The Nasdaq is 0.7% higher in pre-US trade but the indices remains heavy and likely to make further lows. While the S&P 500 remains above its early October low, the Nasdaq opened below this level today, leaving this as short-term resistance. The indices is below all three simple moving averages with a cluster of lows made in late January between 13,720 and 13,850 the next zone of support.

NASDAQ 100 DAILY PRICE CHART – FEBRUARY 18, 2022

S&P 500, Nasdaq 100 Latest as Ukraine/Russia Crisis Continues to Dominate Risk Assets

What is your view on Equities and Risk – bullish or bearish?

 

Feb 18, 2022 |  Nick Cawley, Strategist. DailyFX

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    • Natural Gas Elliott Wave Analysis - prices approach key resistance zone Function - Trend Mode - Impulsive Structure - Impulse Wave Position - Black wave 4 of red wave (3) Direction - Black wave 5 of  red wave (3) Natural Gas (NG) prices are approaching a significant resistance zone that could attract sellers in the coming days and weeks. Over the past two weeks, the commodity has been moving upward to correct the long-term bearish trend that began in August 2022 when it was trading at only $10. Unless there is a violation, this bearish trend should continue. The key question is where this correction will ultimately end - most likely at important price confluence zones shown on the charts. Looking at the daily chart, the bearish trend is clear. The 4th wave (in blue) of the bearish impulse wave trend ended at 3.666. The 5th wave has already begun and is currently unfolding. Detailed analysis reveals that blue wave 5 is completing the red sub-wave (3). As expected, the red wave (3) is further dividing into an impulse wave, which is currently completing its 4th sub-wave represented by the black wave 4. Once wave 4 comes to an end, we can expect another downward movement for wave 5 of (3). Based on the daily chart, it appears that the decline in NG since 2022 is in its final stage and could reach its lowest point in the coming months. Meanwhile, by examining the H4 chart, we can understand how and where we can potentially participate in the next sell-off for wave 5 of (3). On the H4 chart, wave 4 subdivides into a 3-wave correction, specifically the blue wave (a)-(b)-(c). Interestingly, we have identified a confluence zone at 1.94-2, where a psychological level, a Fibonacci level, and a resistance level coincide, indicating the potential end of wave 4. The validity of the bearish impulse wave (3) will be in jeopardy if the price surpasses 2.32. To summarize, according to the Elliott wave theory, the current bounce in NG is considered a corrective move within a bearish impulse wave. As the price approaches a crucial resistance zone, traders and investors can anticipate the sellers taking control once again and pushing the commodity towards 1.2. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!      
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