Indices

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Technical Analysis – US 100 index’s positive sentiment intact despite stalling

Posted on December 12, 2019 at 2:57 pm GMT

The US 100 stock index looks to have stalled after logging a fresh all-time high of 8,452.95, something also backed by the flat Tenkan-sen and Kijun-sen lines. That said, the price is trading above the Ichimoku cloud and the supportive trendline, suggesting that the positive outlook could endure. The short-term oscillators reflect the stall in momentum but lean towards the positive picture. The RSI is hovering in bullish territory, while the MACD – in the positive zone – looks to [..]

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Technical Analysis – UK 100 index retests ascending trendline; Elliot wave pattern looks in progress

Posted on December 12, 2019 at 11:51 am GMT

The UK 100 stock index is pushing efforts to return above the ascending trendline drawn from the 6,535 bottom after the 50% Fibonacci of the 6,535-7,728 bullish wave provided significant support last week. Failure to close decisively above that line could bring the 50% Fibonacci of 7,133 back under the spotlight. If the bears clear that support this time, negative momentum could pick up steam towards the 7,000 mark where the 61.8% Fibonacci is placed. Further down, the 6,900 level could [..]

Technical Analysis – GER 30 index gives up recent highs; looks neutral in short-term

Posted on December 6, 2019 at 8:29 am GMT

The GER30 stock index gave up some ground after stubbornly and unsuccessfully testing the 13,300 region for almost a month. The short-term bias is now viewed as neutral, as the red Tenkan-sen has slowed to meet the blue Kijun-sen line, while the RSI is struggling to hold above its 50 neutral mark. A closing price below Tuesday’s trough of 12,924 and the 50-day exponential moving average (EMA) could encourage more selling, though only a significant decline below 12,660 would put [..]

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Technical Analysis – US 500 index stumbles, but positive outlook intact for now

Posted on December 4, 2019 at 10:03 am GMT

The US 500 index fell this week, after briefly touching a new all-time high of 3158. The picture is still positive, with the price structure consisting of higher peaks and higher troughs above a long term uptrend line drawn from the December 2018 low, and also safely above both the 50- and 200-day simple moving averages (SMAs). That said, a potential close below 3090 would mark a lower low on the daily chart, bringing the bullish outlook into question. Short [..]

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Technical Analysis – US 30 index hits fresh record high, but stalls

Posted on November 27, 2019 at 4:17 pm GMT

The US 30 stock index has repeatedly closed at new record highs in November, with the series of higher peaks and higher troughs on the daily chart confirming the resumption of the longer-term uptrend. The picture is positive across all timeframes –  short, medium, and long-term – though the RSI is indicating that the latest pullback may continue in the immediate term. Having touched its 70 line, the RSI has turned lower, a sign that the bulls may be losing [..]

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Technical Analysis – JP225 index bounces off 200-SMA; short-term bias positive but weak

Posted on November 25, 2019 at 11:14 am GMT

Japan’s 225 stock index failed to cross below the 200-period simple moving average (SMA) on Thursday on the four-hour chart and instead rallied back into the 23,000 area and closer to the upper surface of the Ichimoku cloud. The RSI and the MACD also improved but have yet to expand comfortably in the bullish area, suggesting a weak positive bias for the short-term. Buyers will be waiting for a decisive close above the 23,345 area and the surface of the Ichimoku cloud to [..]

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Technical Analysis – US500 Index plots new high, flirts with 138.2% Fibonacci extension

Posted on November 18, 2019 at 2:41 pm GMT

US 500 stock index continues to gain ground after the push up on October 3, showing no definitive signs of retreating as it clocks yet another fresh all-time high of 3,128.12. The price has distanced itself above the Ichimoku cloud, as has the Tenkan-sen done above the Kijun-sen line, backing the positive picture. Furthermore, the ADX also implies a strong uptrend is in place. The short-term oscillators reflect some easing in positive momentum and could warrant a nearing pullback. The [..]

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Technical Analysis – GER30 index loses steam after fresh 23-month high; uptrend intact

Posted on November 14, 2019 at 12:50 pm GMT

The GER30 stock index paused its rally after registering a fresh-month high of 13,307. The falling RSI, which is trying to exit the overbought area above 70, suggests that the bullish action may be overstretched and it’s time for a downward correction. The easing momentum in the MACD is endorsing the move as well. Yet, in terms of trend, the fact that the price is above its upward-sloping simple moving averages (SMAs) and the Ichimoku cloud hints that the market may likely maintain its upward pattern. The 13,140 [..]

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Technical Analysis – US30 stock index remains positive, ascent eases from all-time high

Posted on November 11, 2019 at 4:55 pm GMT

US30 stock index seems to be taking a breather as it corrected lower from the all-time high of 27,773 and looks to be heading towards the 50-period simple moving average (SMA), which is located currently at the recent swing low of 27,406. The short-term oscillators reflect weakening in the positive momentum and even possibly a shift into a sideways market. The MACD remains in the positive zone but has moved below its red trigger line. The RSI has reached its [..]

Technical Analysis – US500 index prints fifth week of gains; bias positive overall

Posted on November 6, 2019 at 8:19 am GMT

The US 500 stock index (cash) is recording its fifth week of gains within an ascending channel. Having reached a fresh record high of 3,087, the market may experience some weakness in the short-term as the price touches the upper Bollinger band and the RSI reverses lower just below its 70 overbought mark. Yet, with the latter holding well above its 50 neutral mark and the market trend showing no signs of reversing as the index keeps printing higher lows and higher [..]

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