Research May 24, 2024


Price Development AEX Index 


It is Friday, May 24th, and the AEX is around 909 at midday. This is the same level as last week.

Above, you will find the chart of the AEX over the past four weeks. On the left, you can see the volatile period and the subsequent rise. For the past two weeks, the index has been moving sideways.

In the past week, the AEX has continued its sideways pattern. The index has been fluctuating within the relatively narrow range between 905 and 918 for the past two weeks. On Thursday, the AEX reached its highest point due to the excellent figures from Nvidia released on Wednesday evening. The Tech sector, in particular, benefited from this. On Thursday afternoon, the PMI was released. This is a purchasing managers' index. Notably, the purchasing managers' index in the service sector was significantly higher than expected. From this, you can infer that the US economy is performing better than expected, and therefore, a rate cut might be postponed. As a result, there was a sharp drop in the AEX to 905. Currently, it is back at 909.

 expectation Price development AEX Index 

This sideways pattern does not prompt any adjustment in the algorithm. The short-term price target remains unchanged at 935. In the coming week, under the preferred scenario, we may expect a slight correction to around 900, followed by a rise to 935.

In the long-term scenario, the outlook remains extremely positive with a price target for the AEX of 1025, and the system even indicates a potential extension to 1130.  

Backtrack: Read our outlook on the AEX Index from May 16, 2024

Price development Nasdaq

The Nasdaq futures are currently at 18,735, the same level as last week.

Last week, the Nasdaq reached its first price target. This happened with great force, leading our algorithm to indicate that we can expect a swift upward continuation. In the past week, the volatile Nasdaq also displayed a sideways pattern. This does not prompt any change in the outlook. The most likely scenario anticipates a slight correction to 18,400, followed by a rise to 21,500. The most likely scenario only turns negative if the Nasdaq futures drop below the 17,000-point threshold.

Below, you will find the chart of the Nasdaq 100 futures over the past four weeks. You can see the sideways movement since May 15. The volatile Nasdaq showed a brief spike due to Nvidia but quickly returned to the sideways pattern


Important stock market news for the week of May 27, 2024, to May 31, 2024

In the coming week, the US and UK stock markets are closed on Monday. On Friday at 2:30 p.m., key inflation figures from the US will be released. Equity markets are expected to move sideways to slightly lower until then and the inflation figures are expected to cause a big move on Friday afternoon.

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.


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