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Publication date: Nov. 28, 2024
Price movement of the AEX Index
It is Thursday, Nov. 28, and the AEX is at 880 in the morning session. That is 25 points (2.9%) higher than last week's reading. To the right is the chart of the AEX over the past 9 months. You can see the previous trades and the most likely scenario plotted.
The AEX experienced a sizeable recovery as last week's close. From 853 on Thursday morning to the preliminary weekly high on last Tuesday at 884. Meanwhile, the AEX has also been 872 and thus currently at 880. We may speak of a moving recovery period in the AEX.
What does this mean for sentiment on the AEX?
Sentiment in EU equity markets continues to be characterized as "uncertain."
What is the expectation for the AEX?"
As long as the AEX does not close above 885, the most likely scenario is that the AEX will begin another decline to 848. As such, this also remains the price target of the ongoing short position taken at 885. The stoploss also remains 885.
The expected longer-term course of the AEX depends on the strength of this recovery. A close above 885 signals in the algorithm that the AEX may continue to rise above 900 points.
For the long term, the view for the AEX remains at neutral.
Look back: read our view of the AEX of November 21, 2024 here
What happened on the Nasdaq this past week?
The Nasdaq futures are currently at 20,855 which is 250 points (1.2%) higher than last week's reading.
The Nasdaq futures are moving sideways this week between the well-known 21,000-point line at the top and 20,600 at the bottom. This week, US stock markets are closed on Thursday and open for half a day on Friday.
What is the forecast for Nasdaq futures?
The forecast is unchanged and positive. The long position taken at 20,440 has a price target of 24,000 and the stop-loss of 19,800 points is the rock-solid lower limit. It is important that the resistance of 21,000 points is broken soon to maintain the strength in the uptrend.
For the long term, the expectation is unchanged positive and the price target stands at 24,000 points.
Below is the chart of the Nasdaq futures over the past 6 months with the most likely scenario plotted.
What happened on the Dow Jones Industrial Average (DJIA) Index this past week?
The DJIA is currently trading at 44,875 points, which is 1,435 points (+3.3%) higher than last week's reading. With a weekly high of 45,515, the DJIA is once again showing a lot of strength and even skipping the expected correction.
What is the Dow Jones Industrial Average Index's forecast?
The most likely short-term scenario is a very modest correction of about 1% to the 44,500 level before continuing the strong uptrend to the price target of 48,000.
The position is currently neutral in anticipation of the correction.
Below is the chart of the DJIA futures over the past 9 months with the most likely scenario plotted.
Important items on the economic agenda for the week of Dec. 2 through Dec. 6:
The coming week's main event is at 2:30 p.m. on Friday with the release of monthly Labor figures in the US. These data are very important for the Fed's interest rate policy.
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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