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US Index Technical Analysis: Dow, S&P 500, and Nasdaq 100 Reverse off Multi-Month Highs

“No news is good news” as they say, and if US indices continue to consolidate around current levels, we could be looking at a situation where “no price action is good price action.”

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November 30, 2023 07:36 AM

FTSE and crude oil analysis: Will rebound in oil finally lift UK index?

Can rebounding oil prices fuel rally in energy stocks like BP and Shell? FTSE technical analysis hints at potential recovery for UK index. Meanwhile, Brent crude oil rises above 200-day average ahead of OPEC meeting.


FTSE analysis: Time for UK to join global rally?

The ongoing stock market rally continues. With the US Thanksgiving holiday keeping trading on the quieter side today, the European markets edged higher. The DAX has now completely made back the entire losses it suffered between September and October. Other mainland European indices have similarly made strong gains, along with Wall Street. But frustratingly for the UK market, the FTSE has not shown much desire to go higher.

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November 25, 2023 03:00 AM

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Nasdaq 100 Analysis: NDX holds at YTD highs ahead of Nvidia Earnings

The Nasdaq 100 is at year-to-date highs and Nvidia is at record highs ahead of earnings this afternoon...

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S&P 500 forecast: Forward testing the S&P 500 around Thanksgiving

I have always had an inkling that US equity markets tend to perform well heading into Thanksgiving. So today, I put that theory to the test.

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November 17, 2023 03:20 PM
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S&P technical analysis: Bears back in town or temporary respite?

The Nasdaq and S&P 500 both seem somewhat overbought following a rapid three-week surge. Wednesday's price action has raised the possibility of a short-term pullback. Despite this, it's essential to differentiate any potential short-term weakness from a bearish reversal, unless price action on the charts or a strong pushback from the Federal Reserve indicate otherwise.


US Index Analysis: DJIA, S&P 500, and Nasdaq 100 All Test Key Resistance

The Dow, S&P 500 and Nasdaq 100 are all testing key resistance levels and could pull back over the next couple days...


FTSE 100, DAX analysis: UK lags EU and US stock market recovery

After hitting a new all-time high in February, the FTSE has struggled to find any sustainable support, hurt by concerns over China, UK’s struggling economy and high interest rates across the world. But we have had some positive data out of China, the UK and US this week, which may mean the worst days are behind us.

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November 16, 2023 10:30 PM

Nasdaq 100 analysis: Stocks extend rally on signs Fed winning inflation battle

We are now in mid-November and US stock markets are enjoying one of their best phases this year, all thanks to optimism that interest rates will start to come down in the not-too-distant future now that inflation is on a downward trajectory. The markets do appear a little overbought though after a sharp three-week rally, especially the tech-heavy Nasdaq, so there is a risk of a short-term pullback.

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November 16, 2023 05:21 AM
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S&P 500 hints at swing high following Powell’s hawkish speech: The Week Ahead

Hawkish comments from Jerome Powell with the threat of further hikes snapped Wall Street’s 8-day wining streak, and hints at a swing high on the S&P 500 heading into the weekend. And that puts traders on high alert for next week’s inflation report, not to mention the threat of a government shutdown if the debt ceiling is not raised by Friday.

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November 10, 2023 10:42 AM

S&P 500 Analysis: Studying the Struggling VIX Streak and Stocks

Previous 8-day declining streaks in the VIX have been bullish for the S&P 500, but patience is warranted.

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Nasdaq 100 analysis: Stocks running out of bullish catalysts after big rally

The optimism we saw last week was all based on signs of peak interest rates in the US. To give you an idea of what kind of a week it was, the Dow enjoyed its biggest weekly gain since October 2022, while the S&P and Nasdaq had their best weeks since November 2022. While those gains are impressive, so far, we haven’t seen any follow through.

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November 7, 2023 10:40 PM
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US dollar analysis: NFP cements peak Fed rates narrative

Today’s publication of US jobs report has further cemented expectations that the Fed has reach peaked interest rates. Bond yields and the dollar have sold off as a result, with indices and gold moving higher.


S&P 500 analysis: Stocks extend post-FOMC gains ahead of AAPL, NFP

Global stock indices continued to make strong gains, extending recovery from the previous session. Bets that the Fed is done with rate hike is what’s driving markets higher, while mixed technology earnings have reduced fears about overstretch valuations in the sector.

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November 3, 2023 03:53 AM
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USD/JPY holds support, DAX breaks 15k: European Open – Nov 2, 2023

The DAX may have broken the 15k level, but it remains within a bearish channel and resistance zone on the daily timeframe – so I’m looking out for a potential swing high once its current rally has petered out. USD/JPY has found intraday support around a cluster of technical levels, which paints a near-term bullish bias.

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November 2, 2023 05:04 PM
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DAX outlook: Stocks in cautious mode ahead of FOMC

Sentiment has been somewhat firmer in the last couple of days with global indices staging a decent recovery. But at the start of today’s session, caution was the name of the game. European indices and US futures were trading a touch lower as investors awaited the Federal Reserve’s rate decision.

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November 1, 2023 11:19 PM
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Dow Jones Forecast: Stocks muted as the Fed meeting begins, earnings continue

US futures are pointing to a muted open after strong gains in the previous session, as the Federal Reserve begins its two day policy meeting and as earnings continue to roll in. The Fed is widely expected to leave rates unchanged. However, the market will be watching commentary tomorrow on the future path for interest rates in light of recent strong data. US Consumer confidence data is due later today and is expected to ease to 100 from 103.

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November 1, 2023 12:06 AM

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WTI crude oil prices defy the bullish consensus

The 4-month winning streak on oil prices is on track to be snapped, with October having erased all of September’s gains. And this flies in the face of current news flows, of the potential for the Middle East conflict to escalate and send oil prices higher (alongside food, energy and inflation expectations).

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Nasdaq 100 outlook in focus ahead of key earnings - Technical Tuesday

The Nasdaq 100 gave up earlier gains and was trading flat at the time of writing, ahead of major earnings. Stronger-than-expected PMI data earlier from the US, where both the services and manufacturing sectors showed moderate expansion with 50+ readings, boosted the “higher for longer” narrative.


DAX outlook: Stocks rebound ahead of busy week but can recovery hold?

Sentiment was a little more cheerful in the first half of Tuesday’s session, following Monday’s recovery in stock and bond markets, and the return of the selling in precious metals and oil markets. European indices and US futures were trading higher as yields dipped further lower after the US 10-year could not hold above the key 5% level for long on Monday.

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October 24, 2023 11:00 PM

FTSE 100, DAX Analysis: European Indices Limp to a Losing Week

The FTSE and DAX both fell after relatively weak economic data drove fears of a recession, while the ongoing conflict between Israel and Hamas hurt risk appetite across the board...

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October 21, 2023 07:15 AM
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S&P 500 analysis: Risk off remains dominant theme

It was “risk off” again first thing this morning as Europe’s leading indices fell along with US index futures following Wednesday’s selling. Though the indices bounced off their lows by mid-day London, it remained to be seen whether the markets will be able to regain their poise meaningfully. Recent recovery attempts have all been futile. This could be another one.

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October 19, 2023 10:50 PM
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DAX Analysis: Stocks struggle on MidEast tensions, higher for longer rates

As investors assess the risks of interest rates remaining high for longer, and of course, the escalation of the situation in the Middle East following the bombing of the hospital in Gaza, they are not going to be aggressive in risk-taking you would think.

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October 18, 2023 10:00 PM