NASDAQ 100, ASX 200, STRAITS TIMES INDEX OUTLOOK:

  • Nasdaq 100 index gained 1.8%, boosted by vaccine hopes and Oracle’s potential cope with TikTok
  • Australia’s ASX 200 opens flat, oscillating round 5,900 whereas momentum turning bullish
  • Singapore’s Straits Instances Index isn’t impressed by US tailwinds, discovering assist at 2,500

Nasdaq 100 Index Outlook:

The Nasdaq 100 index futures have retraced barely at early Asia hours, after rising greater than 1.8% on Monday. Sentiment has proven indicators of enchancment on Wall Avenue as Pfizer’s CEO signaled {that a} Covid-19 vaccine is “doubtless” to be deployed to the US public by the tip of this yr. Apart from, US tech large Oracle is in a possible deal to amass TikTok’s US operations after Microsoft’s withdrawal. Oracle’s share value superior 4% earlier than a buying and selling halt occurred.

Begins in:

Stay now:

Sep 15

( 16:09 GMT )

Be a part of Day 1 of the DailyFX Summit discussing commodities

DailyFX Training Summit: Commerce Your Market – Day 1, Commodities

Register for webinar

Be a part of now

Webinar has ended

Whereas Wednesday’s FOMC assembly and Thursday’s BOJ andBoE rate of interest choices are among the many prime occasions this week, there are some key information to be watched out for as we speak. China’s August industrial manufacturing and retail gross sales are particularly focus.

Chinese language industrial manufacturing is predicted to proceed its expansionary trajectory in August, with economists forecasting a 5.1% annualized tempo of development from a yr in the past. Retail gross sales development remained in a tender patch, however is step by step recovering from unfavorable territory within the current months.

China Industrial Manufacturing YoY (%) – Forecast

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Supply: DailyFX

China Retail Gross sales YoY (%) – Forecast

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Supply: Bloomberg, DailyFX

Sectorsmart, all eleven S&P 500 sectors ended greater on Monday. The rally was led by actual property (+2.16%), data know-how (+2.07%) and supplies (+1.37%). Encouragingly, 88.7% of the parts within the index closed greater.

S&P 500 Index Sector efficiency 14-9-2020

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Supply: Bloomberg, DailyFX

Technically,the Nasdaq 100 has discovered a robust assist at 11,070 – the 23.6% Fibonacci retracement – and has since rebounded (chart under). Holding above this degree might pave approach for additional upside in direction of the instant resistance degree of 11,660 – the 20-Day Easy Shifting Common (SMA). The RSI indicator has retraced again to impartial ranges from an overbought territory above 70.0. This implies that near-term promoting stress is fading.

Nasdaq 100 IndexDay by day Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

ASX 200 Index Outlook:

Optimistic sentiment from the Wall Avenue in a single day might raise Australian shares, which have already registered respectable good points on Monday. In the present day’s Chinese language information is more likely to set the tone for ASX 200 buying and selling within the mid-day. It could additionally spook some volatility in AUD/USD pair, which has been ranging inside a decent zone between 0.725 to 0.730 lately.

Technically, the ASX 200 index has discovered a robust assist at 5,850 and has since rebounded (chart under). The MACD indicator is more likely to type a “Bullish Crossover” if the index continues to climb within the days to come back.

ASX 200 Index – Day by day Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Straits Instances Index Outlook:

Singapore’s Straits Instances Index (STI) did not comply with the broader market rally on Monday and closed marginally decrease on Monday. STI’s efficiency this yr is essentially lagging behind its international friends, maybe as a result of poor fundamentals and a scarcity of know-how gamers. Its comparatively low cost valuation, nonetheless, might serve to cushion the draw back.

Technically, the STI has discovered a robust assist at round 2,500. It has fashioned a “Descending Triangle” on the each day chart, trending decrease since early June. The MACD indicator, nonetheless, has doubtless fashioned a bullish “MACDConvergence” because the MACD fashioned “greater lows” whereas inventory costs drifted decrease. The STI wants some constructive catalysts to aim for a significant breakout.

Straits Instances Index Day by day Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Building Confidence in Trading

Building Confidence in Trading

Really useful by Margaret Yang, CFA

Don’t give into despair, make a recreation plan

— Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Feedback part under or @margaretyjy on Twitter