Indices

The index made a poor start to the week, after Monday’s timid rate cut by the central bank and overall modest actions to support the failing recovery of the Chinese economy, but rises today

The UK index heads towards a losing week and is in risk of new 2023 lows, as the latest inflation and employment reports keep the central bank on its tightening path

The US index is having a bad month and dropped into the daily Ichimokou Cloud yesterday, as strong data and the Fed minutes keep the door open to further monetary tightening, but reacts today

China’s stock markets are weighed by renewed fears around the property market, after Country Garden’s profit warning, as recent data point to frail recovery of the world’s second largest economy

Moody's has decreased the credit ratings of numerous smaller and medium-sized banks within the United States. The agency also indicated the possibility of future downgrades for some of the country's largest financial institutions. This move comes as a cautionary measure, as Moody's expressed concerns about the potential challenges that the banking sector might face due to funding vulnerabilities and a decrease in overall profitability.

The tech heavy index comes from one of its worst weeks of the year, weighed by Apple’s disappointing results and trades with caution today, as Thursday’s CPI Inflation looms

Even though EUSTX50's primary trend is up, the intermediate trend does show signs of slowing.

The UK index dropped in the aftermath of the Bank of England further tightening, but finds support today as the rate hike was of just 25 basis points

The index sold-off on Wednesday after Fitch downgraded the US long term rating, with focus now shifting to Big Tech earnings and the jobs report

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.