Friday, May 10, The AEX is at 907 in the morning session, which is 19 points higher than last week, continuing its upward trend.
Above, you will find the chart of the AEX over the past two months. You can see the significant correction in mid-April from 893 to 858, followed by a volatile period that eventually led to breaking through the 893 level.
Last week, The AEX broke through the previous top at 893 without significant resistance. The past trading week saw relatively calm movements and is strongly progressing toward the set price targets.
The algorithm has adjusted the most likely scenario for the AEX. The price target for this year has been raised from 920 to 935. Around that level, we should expect a correction to around 850, and the next price target is 1025. Whether the AEX will reach 1025 this year is impossible to say. The algorithm is strong and reliable but will never be a crystal ball.
We can therefore prepare for a continuation of the trend up to 1025 and start benefiting from intermediate corrections.
The Nasdaq futures are currently at 18,235, which is 285 points higher than last week.
The volatile Nasdaq also had a relatively quiet week. The uptrend continues toward our price target of 18,700 in the futures. The algorithm expects the necessary resistance at the 18,700 level in the most likely scenario. The possibility of a larger correction in the Nasdaq could then begin at that level. The long-term target remains 21,500.
Below, you can find the chart of the Nasdaq 100 future from January 1, 2024. You can see the significant corrective decline from mid-March to mid-April, followed by the setup of the upward movement with the first target of 18,700.
In the coming week, we look forward to the important inflation data from the US. On Tuesday at 2:30 p.m. the Products Price Index and Wednesday at 2:30 p.m. the Consumer Price Index. The markets are focused on the inflation figures so we should expect price movements at these times. In addition, Tuesday at 4 p.m. Fed Chairman Powell will give a speech.
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. They are therefore for educational purposes only.
