Current AEX Index

The AEX began Monday morning overenthusiastically with a high at 949. This rebound was short-lived and the same day the AEX dropped back to 937. Wednesday morning came the figures and reports from heavyweight ASML. The figures were not disappointing but the export restrictions threatened from the U.S. threw a spanner in the works. ASML fell 11% on Wednesday. Based on the weighting in the index, ASML was responsible for a 1.7% drop in the AEX. Here below is the chart of the AEX as of January 1, 2024. You can see the most likely scenario for this year penciled in on July 12. Briefly back to the 896 before finishing the trend at 1,025.

What does this mean for sentiment?

We have been writing for weeks that the stretch is momentarily out of the ascending trend and that a correction is imminent and that the rise above our price target of 935 is most likely a false breakout. Given the course of the markets over the past week, it is clear that the markets are indeed taking a breather and reversing for a while. This is how we can best describe the current sentiment.

What is the expectation of the course of the AEX Index?"

The algorithm has given a sell (short) signal at 938. Price target 896 with possible runout to 875 and stop loss at closing above 946. This is a correction within a strong uptrend with the unchanged price target at 1,025 for the AEX. In the coming week, we can expect a slight recovery in the AEX. This recovery may rise 1.5% from the current 913 to around 927.

Course movement of the Nasdaq

The Nasdaq futures are currently at 19,860 which is 568 points (2.8%) lower than last week's reading.

The Nasdaq also set its highest weekly reading on Monday morning with a price of 20,800.
After that, the expected correction began which reached its lowest this morning at 19,750 points.