Peak AEX Index
It is Thursday, February 29, and the AEX is at 848. That is 7 points lower than last week.
Here above you will find the chart of the AEX since December 2023. You can see the strong upward movement caused by the Tech funds. You can also see the sideways movement of the last two weeks. The market is clearly taking a bit of a breather before picking up the trend again.
What is the expectation of the price movement of the AEX Index?
After the strong rise in the middle of last week, we see a slight correction of about 1 percent in the AEX this week. This price movement fits within our algorithm's preferred scenario. The AEX can and may even return to the 832 level. From at least that level, the index will continue its upward trend again with 875 as its first price target. The price target of 950 for 2024 is maintained.
TradingStrategy's portfolio has a long position in the AEX.
Backward look: read our view of the AEX Index of February 23, 2024 here
Coil movement of the Nasdaq
Below is the chart of the Nasdaq100 since the beginning of this year. Currently, the Nasdaq is at 18,000, hovering around its price at the end of last week. The same applies to the Nasdaq as to the AEX. Although the price movements in the Nasdaq are larger and more mobile than in the AEX, the trend and scenario are the same. Hence, the algorithm took a long position here as well. The price target for the Nasdaq is 19,000 with an ultimate price target for 2024 of 22,500.
Major stock market news in the week of March 4, 2024 through March 8, 2024
>In the coming trading week, we expect the ECB's interest rate decision plus press conference on Thursday afternoon and the US monthly labor figures on Friday afternoon. Both events could cause a lot of movement.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. Therefore, they are for educational purposes only.