Morning Report Nov 1, 2024

NASDAQ (Price Oct 31, 2024: 18095)

Watch

Investors have paid higher prices over time to buy NASDAQ and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. However, the price has broken a support level in the short term and given a negative signal for the short term trading range. The index is approacing resistance at 18700 points, which may give a negative reaction. However, a break upwards through 18700 points will be a positive signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Oct 31, 2024: 20506)

Buy

Hong Kong - Hang Seng has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 17893. The objective at 19719 is now met, but the formation still gives a signal in the same direction. The index has support at points 19600 and resistance at points 23000. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the index. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nikkei 225 (Price Oct 31, 2024: 38054)

Weak buy

Nikkei 225 is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index has support at points 33500 and resistance at points 40000. Trading volume has increased substantially lately, which may be because of fundamental news. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Oct 31, 2024: 4815.15)

Weak buy

Investors have paid higher prices over time to buy Euro Stoxx 50 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has support at points 4400 and resistance at points 4900. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Amsterdam - AEX (Price Oct 31, 2024: 874.18)

Weak buy

Amsterdam - AEX has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. A head and shoulders formation is under development. A decisive break of the support at 861, ideally with an increase in volume, signals a further fall. The index is approaching support at 860 points, which may give a positive reaction. However, a break downwards through 860 points will be a negative signal. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Sydney (Price Oct 31, 2024: 8379.70)

Weak buy

Investors have paid higher prices over time to buy Sydney and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 8150 and resistance at points 8620. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

S&P 200 (Price Oct 31, 2024: 8118.80)

Weak buy

S&P 200 is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 7900 and resistance at points 8350. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Oct 31, 2024: 3272.01)

Weak sell

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has received a positive signal from the moving average indicator, thus signaling a continued rise. The index is testing resistance at points 3300. This could give a negative reaction, but an upward breakthrough of points 3300 means a positive signal. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

CAC (Price Oct 31, 2024: 7350.37)

Weak sell

CAC is within an approximate horizontal trend channel in the medium long term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The index has broken a support level and given a negative signal for the long term trading range. The index has support at points 7140 and resistance at points 7500. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

UK 100 (CBOE) (Price Oct 31, 2024: 813.47)

Weak sell

UK 100 (CBOE) shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. It also gave a negative signal from the rectangle formation at the break down through the support at 822. Further fall to 802 or lower is signaled. The index has broken a support level and given a negative signal for the long term trading range. The index has support at points 800 and resistance at points 842. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis