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Recently the Dow Jones Industrial Average and the Dow Jones Transportation Average have both charted 52-week highs. According to Dow Theory this is a promising outlook for a wider bull market. This strategy has a strong historical track record in identifying primary trends in stocks.
Last week I wrote how the GER30 was setting up to tackle its overhead resistance once again. The 16,300-16,400 levels were hit four times since mid-November 2021 and each time price was repelled. However, this time there are signs that the bulls may overpower the key level.
The German Index hit fresh all-time highs after the European Central Bank hiked rates on Thursday, as Ms Lagarde opened the door to a pause, in a dovish press conference
Chinese stocks have surged as Beijing promised to take strong “counter-cyclical” measures to boost China's struggling economy. China's leaders promised on Monday to increase policy support and boost domestic consumption, as the post-Covid recovery was slower than anticipated.
After a losing week, NAS100 is subdued as markets brace for the Fed and earnings from tech giants Alphabet, Microsoft and Facebook-parent Meta Platforms
The GER30 is preparing to attack overhead resistance.
The SPX500 has a strong tailwind and underlying momentum. However, the index does exhibit signs of froth that will need to be cleared.
The US2000 has a positive momentum and is contributing to the stock market bull run.
The tech-heavy index extended its gains on Monday and comes closer to the 16,000 mark, but is subdued today ahead of Wednesday’s quarterly earnings by Tesla and Netflix
A notable aspect of this year's remarkable surge in technology stocks has been the significant influence exerted by the market's most valuable tech companies in terms of market capitalisation. This situation has presented a distinct challenge for the Nasdaq 100 stock index, which monitors the top 100 companies traded on the Nasdaq exchange.
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