Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER
Weekly Market Brief: FTSE, DAX, NASDAQ 100, S&P 500 and Dow
www.investing.com/analysis/weekly-market-brief-ftse-dax-nasdaq-100-sp-500-and-dow-200633342
Weekly Market Brief: FTSE, DAX, NASDAQ 100, S&P 500 and Dow
By Francesco Bergamini | Dec 11, 2022 06:52AM ET FTSE 100
The FTSE 100 index had a week down by -1.05%. For the week ahead, we favor a retracement to the 7,400 area.
Indicators
A negative week for the British index, as it almost seems to want to repeat August's setup.
The price finally broke below the 9-day average (red line), a strong dynamic resistance since October.
We believe this break is important, especially after a long upside phase: we could expect a short back-test of the 9MA and then, in our opinion, begin a downward phase.
MACD and RSI have started an initial reversal and mirror price action.
We are bearish on the FTSE 100 as we believe risk/reward is still in favor of further downsides: the short-term target remains the 50-day average (yellow line) today at 7,200.
- Support at 7,150
- Resistance at 7,600
FTSE MIB
The FTSE MIB index had a week down by -1.40%. We favor a retracement to the 23,700-23,500 area for the week ahead.
Indicators
A negative week for the Italian index, which saw the break of the narrow trading range in place since the beginning of November.
This move could be an early sign of further short-term bearish pressure. MACD and RSI are also slowing down and in line with the price.
After these initial declines, it is likely to expect a very brief recovery of momentum and then, in our view, proceed further downwards.
We are bearish on the FTSEMIB: November's strong stretches have only begun a retracement phase, and we believe a plausible short-term target is the 50-day average, now at 23,100.
- Support at 22,500
- Resistance to 24,850
DAX 40
DAX index had a week down by -1.09%. We favor a progressive retracement to 13,900 for the week ahead.
Indicators
A bearish week for the German index, which stays within the narrow trading range, started in November 2022.
The few closes below the 9-day average (red line) seem to herald a possible downward trend reversal.
MACD and RSI are slowing down in line with the price action.
We are bearish on the DAX and in favor of possible short-term downward pressure: we believe the trend reversal has only just begun, and a possible short-term target is the 50-day average (yellow line), now at 13,600.
- Support at 13,100
- Resistance at 14,550
S&P 500
The S&P 500 had a week down by -3.37%. We favor a possible consolidation in the 3,900 area for the week ahead.
Indicators
A negative week for the US index, which sees the price at the November levels'.
The price action seems to be forming a possible “head and shoulders” setup, where we should, in theory, see a slight recovery followed by a stronger bearish reversal to at least 3,800 - 3,850.
MACD and RSI are retracing but continue to hold in positive territory. We remain neutral on the S&P 500 and prefer to wait for further market reversal.
- Support at 3,750
- Resistance at 4,100
NASDAQ 100 (NDX)
The NASDAQ 100 index had a week down by -3.59%. We favor consolidation in the 11,500 area for the week ahead.
Indicators
A negative week for the Tech index keeps the price substantially unchanged from November.
The price is currently stuck between the 9 (red line) and 50 (yellow line) day averages, and only the break of one of these two levels will lead to more pronounced short-term volatility.
MACD and RSI are flat, reflecting a hesitant price action.
We are neutral on the NASDAQ 100, but with bearish expectations, a recovery in US 10-year rates could lead to further market downward pressure.
- Support at 10,400
- Resistance at 12,000
DOW JONES (DJI)
The Dow Jones Industrial Average index had a week down by -2.77%. We favor an initial retracement to the 33,000 area for the week ahead.
Indicators
A bearish week on the industrial index saw the price holding above the strong intermediate support at 33,400 anyway.
MACD and RSI mark a notable slowdown, although still in positive territory. Looking at previous price action, we believe risk/reward still favors possible short- to medium-term downsides.
We remain bearish on the DOW JONES and that only a retest with the 50-day average (yellow line) could offer interesting setups.
- Support at 31,200
- Resistance at 34,500
Related Articles
Soft Landing Scenario: Possibility or Fed Myth?
By Lance Roberts - Jan 27, 2023
18
Optimism is increasing on Wall Street, with investors hoping for a soft landing in the economy. The hope is that despite the Fed hiking rates at the most aggressive pace since...
Is U.S. Recession Risk High, Low…or Both?
By James Picerno - Jan 27, 2023
There’s an old joke in the world of statistics that says if you torture the data long enough, it’ll say anything you want. But sometimes torturing is redundant....
Natural Gas Could Head Lower in the Short-Term; U.S. GDP Above...
By Antonio Ferlito - Jan 27, 2023
1
The GDP of the United States in the fourth quarter of 2022 recorded an increase of +2.90%, the consensus was +2.60%. Growth was largely fueled by changes in inventories and public...
Weekly Market Brief: FTSE, DAX, NASDAQ 100, S&P 500 and Dow
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.