Will bears return or will the bulls continue pushing forward? 7 things to know before NY opening tonight
US Stocks may open higher tonight on the last trading day of the week. During today’s Asian trading session, the Futures market hinted at a positive start for major American indices Nasdaq, S&P, and Dow Jones. The recent rebound in US stocks indicates investors are accumulating, and we expect the trend to continue. We must be mindful of the volatility, as participants will be anticipating the weekend event risks. If there are no major news announcements, then expect the market to close in positive territory.
I recommend focusing on position management, preferring ‘blue chip’ stocks and US Index investing for tonight. Focus on the Federal Reserve’s Jackson Hole conference for info regarding the central bank’s policy outlook.
Global view: European markets closed higher yesterday; with the European Stock 600 index ending the day up 0.3%. Asia Stocks also rose today, aided by a rally in Chinese shares, while the dollar trended up before Jerome Powell’s speech on monetary tightening. Markets in Japan, Australia and South Korea were all looking positive.
Buy NAS100 @ 13100–3200, SL@13080, TP@13333
Buy SPX500 @ 4180–4200, SL@4150, TP@4240