The price of the SP500 index breaks all levels… The best session of the Nasdaq index and the Dow Jones index, tension on the Asian market with Nikkei prices and the Kospi index!


Wall Street staged an impressive rally on the back of better-than-expected US consumer sentiment and retail sales data as markets focused on a still-robust US consumer while ignoring its ominous warnings about the trajectory of the Fed monetary policy. data this week, and the FOMC in a media blackout before the meeting, the rally in equities could extend throughout the week.

Lee to OANDA!

The S&P 500 could rally to 4,050.00

Looking at the S&P 500 chart today, the technical picture certainly suggests this. The S&P 500 could retrace to 4,050.00, its downtrend line from March, and remain in a bear market. To start saying that the worst is over for the equity markets, we would have to break this level in a sustained way and, preferably, the 100-day moving average (DMA) at 4,140.00.

What about Nasdaq stocks, the Dow Jones index and the SP500 index?

On Friday, the S&P 500 was up 1.92%, the Nasdaq 1.79% and the Dow Jones was the session’s best, up 2.15%. US futures are doing well today in Asia. S&P 500 futures are up 0.40%, while Nasdaq futures are up 0.95% and Dow futures are up 0.20%.

Banking heavyweights Bank of America and Goldman Sachs report results today, although I think it would take nightmarish earnings and outlook for markets to shut down.

Japan’s Nikkei 225 is closed today, while South Korea’s tech-focused Kospi is up 1.75%

Asian markets are content to follow Wall Street this morning, helped by hopes that China will take more aggressive stimulus measures to solve its problems in the housing market. The Japanese Nikkei 225 is closed today, while the tech-focused South Korean Kospi is up 1.75%. In China, the Shanghai Composite is up 1.50%, the CSI 300 is up 1.20% and Hong Kong’s Hang Seng is up an impressive 2.55%.

Jakarta gained 0.20%, Bangkok 0.25% and Manila lost 0.25%, while the peso remains under pressure

In regional markets, better NODX data from Singapore pushed the Straits Times up 0.65% and Taipei added 0.60%, while Kuala Lumpur was flat. Jakarta gained 0.20%, Bangkok 0.25% and Manila lost 0.25%, while the peso remains under pressure. Australian markets are also higher after the Wall Street rally, with the All Ordinaries up 0.90% and the ASX 200 up 0.85%.

Positive session on the European markets?

European markets also had a very positive session on Friday. However, with the ECB in sight on Thursday and Russian gas deliveries set to resume, European stocks may struggle to repeat Friday’s gains this week.

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