Research March 8, 2024


It is Friday, March 8, and the AEX is at 868 in the morning. That's 20 points more than last week.

On Thursday we had the necessary macroeconomic events and, in addition, a speech by both Ms. Lagarde (ECB) and Mr. Powell (Fed). Powell's speech on Thursday afternoon in particular provided support for stock markets. Indicating that the US is not far from an interest rate cut gave the market wings. As a result, the AEX immediately broke through the hefty barrier of 861 in a straight line towards the 872 level, up 3 points to the first target. The trend is strong and upwards but the price target for this trend in 2024 has been lowered from 950 to 920.
Friday afternoon the monthly labor figures are released from the US. Each month these figures create volatility and these, can provide a strong continuation up or usher in a correction in stock prices. Nevertheless, the major trend is upward.
Below is the chart of the AEX since the beginning of this year. You can see the strong upward movement, in January caused by the Tech funds, although you can see the on-balance sideways price movement in February. On Thursday, March 7, the AEX broke out and can head for the next price target 920.


Below is the chart of the Nasdaq100 since the beginning of 2020 clearly showing the strong upward trend from the COVID period. The inevitable correction and of course the current upward trend due to the huge growth and expectations of Tech funds. 

The Nasdaq is standing at 18500 as of now, which is an increase of 500 points compared to last week. The same things that happen to the Nasdaq also apply to the AEX. The Nasdaq might be bigger and more volatile than the AEX, but the trend and scenario remain the same. That's why the algorithm chose to also take a long position here on February 22. The first price goal is 19.000 with an eventual price goal for 2024 of 22.500

Next week there will be an hour time difference with the U.S., due to daylight saving time already starting there. As a result, stock markets open at 2:30 p.m. Dutch time and close at 9 p.m. Dutch time.
Tuesday at 1:30 p.m. and Thursday at 1:30 p.m. monthly inflation numbers from the U.S. will be published. These numbers will provide movement in the week ahead.

Yelza Money Care

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