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The Nikkei index sheds 146.17 points (-0.58%) as market bears take the reigns

A quick look at today: the Nikkei dropped 146.17 points early on and stayed at 27,154.

  • Today's 0.58% loss extends a 3 day bearish run in which the Nikkei had already lost 569.36 points from its share value.

7 days ago, the Nikkei fell to a low of 15.42 but has since recovered 177,028%.

The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control.

Several technical indicators are adding weight to the bearish momentum seen today and forecasting the Nikkei to extend its recent losses.

In the meantime, negative performances are also seen in other markets, after ending today's session at 30,700, Dow Jones lost 516.22 points and is trading around 30,184. After ending today's session at 6,806.4, ASX 200 lost 106.2 points and is trading around 6,700.2. After ending today's session at 3,856, S&P 500 lost 66 points and is trading around 3,790.

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Indices

Equities traders zero in on ASX as it adds 95.3 points (+1.42%)

ASX trades at 6,794.6 after gaining 95.3 points (1.42%).

ASX traded as high as 7,589.8 before shedding 11.1% lower over the past six months.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. ASX broke through the 6,780 resistance and climbed above it 14.5 points; next resistance level is at 6,861.

Overall, looking at the technical analysis landscape, it seems ASX might continue pointing upwards in the short term.

ASX shows positive signs, other assets are also on par: EuroSTOXX is up 4.26%. CAC is up 4.24%. Dow Jones leaps up 2.8% to trade around 30,316.

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Indices

The Dow closed at 30,316 after making a massive single-day jump

The Dow jumps by 2.8% (816.32 points), its largest single-day gain since Jun 24.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions.

Overall, looking at the technical analysis landscape, it seems the Dow might continue pointing upwards in the short term.

The Dow Jones shows positive signs, other assets are also on par: ASX 200 added 3.75% and closed around 6,457 today. EuroSTOXX explodes 4.26% today and closed at 3,342.17. CAC went up by 4.24% today, and closed at 6,039.69.

Having set a significant low of 28,726 4 days ago, the Dow is trading 2.66% higher.

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Indices

The FTSE index sheds 156.46 points and tracking 2.26% lower heading into market close in a hour time

The FTSE went up to 7,069 only to drop back some of the way and is now trading around 7,065.22 as it reaches the end of the trading session.

  • The FTSE has gained 27.16 points over the past 3 days, and today's session seems to be adding to the current uptrend.

The FTSE hit a significant low of 6,881.6 around 5 days ago, but has since recovered 0.39%.

FTSE made an initial breakout above its 10 day Simple Moving Average at 7,030.36, a potential indicator of a newly emerging bullish phase. Despite this, the FTSE price action is currently oscillating around the 7,003 resistance level with prices moving above and below several times during the session.

Overall, looking at the technical analysis landscape, it seems the FTSE might continue pointing upwards in the short term.

Other markets are also showing gains as ASX 200 shoots up 3.75% to trade around 6,699.3. CAC surges 3.55% to trade around 6,000. Dow Jones is up 2.49%.

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