Research May 31, 2024


Price development AEX index


It is Friday, May 31, and the AEX is at 905 in the morning session. That is down four points from last week's reading.
Above is the chart of the AEX as of January 1, 2024. You can see in the first months the well-known Tech rally followed by the correction in April after which the index continues the upward trend to the provisional high at 919. You can also see the price target at 935 and the sideways range the AEX has been in for three weeks. 

In the past week, the AEX tested the bottom of the sideways range as expected. With a low at 902 and thus currently back at 905.

Expectation price development AEX Index 

As indicated earlier, the most likely scenario for the AEX is that the index will make its final rise from 902 to the 935 level for the time being. From 935 a larger correction is expected leading up to the new top around 1025. This scenario takes time. For the short term, the algorithm indicates that if the price falls below 902, the possibility of a further decline to 874 is very high. Therefore, it is important to closely monitor the 902 level, as this has become a crucial point for the development of the AEX in the coming weeks.

Friday at 2:30 pm important inflation figures will be released from the US. These may determine the direction for the coming week. In this the 902 is crucial.

For the long term, the most likely scenario is a rise to 935. Then a correction that could lead to 825 before continuing to rise to 1025. For the short term, we are targeting 935 but a closing position below 902, according to the algorithm, means an impetus for a further decline to 874 initially.

Backtrack: Read our outlook on the AEX Index from May 24, 2024

Price development Nasdaq

The Nasdaq futures are currently at 18,565, which is 170 points lower than last week's reading.

The Nasdaq is volatile and is in a strong long trend upward. It previously reached the initial price target at 18900 and has corrected over the past week as expected. The futures have fallen to 18500 in the past week and so are currently back at 18,565. This is however a very common price movement and does not change expectations.


Expectation price development Nasdaq 

The long-term price target for the Nasdaq futures remains 21,500. For the next few weeks, the Nasdaq may even fall another two to three percent without changing the strong reversal trend. Only below the 17,000-point threshold will the tide turn for the time being.

The algorithm indicates a range between 18,900 and 18,300 as the highest probability for the short term, only to continue the rise above 19,000.

Below is the chart of the Nasdaq100 -future as of January 1, 2024. After the solid correction within the uptrend in April, you can see the high at over 18,900 and the slight technical correction in recent weeks.


Important stock market news for the week of June 3, 2024, June 7 ,2024

In the coming week, it's back to the ECB. On Thursday afternoon, June 6 at 2:15 p.m., they will decide on EU interest rates. On Friday afternoon, June 7 at 2:30 p.m., the monthly labor figures will come out of the US again. These are the most important events and could cause movement in financial markets.

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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