Publication Date: October 22, 2026

AEX

On Thursday morning, October 22, the AEX stood at 1,130 points. This puts the index 3 points, or 0.25%, higher than a week earlier.

Market Trends

As in previous weeks, the AEX started the trading week strongly. On Monday, the index reached a weekly high of 1,145 points, just below the record high of 1,147 points. A correction then set in, causing the AEX to fall to a provisional weekly low of 1,129 points.

Sentiment

Short-term sentiment remains uncertain, while the long-term outlook is positive.

Outlook

According to our model, following its recent record high of 1,147 points, the AEX may first pull back toward 1,110 points.

From this level, we expect a recovery toward 1,160 points in our base scenario. After that, a new correction to around 1,120 points is possible. Once this phase is complete, the index could resume its long-term uptrend, with our price target of 1,230 points in sight.

The chart above shows the AEX’s price movement starting in mid-2026, including our expected scenario.


Nasdaq Futures

On Thursday morning, October 22, the Nasdaq futures contract is trading at 29,500 points. This puts the futures contract 270 points, or 0.9%, lower than a week earlier.

Market Developments

The Nasdaq futures showed a partial recovery last week following the sharp decline in the previous week. After a lower open around 29,225 points, the futures contract reached a weekly high of 30,113 points on Wednesday. This represented an interim recovery of approximately 3%, following a 7.5% decline from the record high set on October 6. Despite this rebound, the futures contract is trading lower on Thursday morning than it was a week ago.

Sentiment

The long-term technical outlook remains positive for now. However, the recent price decline has increased short-term uncertainty and points to an elevated risk of further declines.

Outlook

In our base scenario, we expect the correction to continue toward 28,900 points in the short term. Once this move is complete, we anticipate a recovery toward 30,250 points. Subsequently, our model anticipates a new downward phase, which could bring the futures contract down to approximately 27,000 points.

Despite this risk of a correction, our positive long-term scenario, with a price target of 32,500 points, remains unchanged for the time being.

The chart below shows the price movement of the Nasdaq futures contract starting in April 2026, including our expected scenario.

Dow Jones futures

On Thursday morning, October 22, the Dow Jones futures contract was trading at 52,720 points. This puts the futures contract 685 points, or 1.3%, higher than a week earlier.

Market Trends

The Dow Jones futures continued their recovery last week. On Wednesday, the futures reached a weekly high of 53,138 points. This recovery is in line with our earlier scenario, following the sharp price decline in previous months.

Sentiment

The long-term technical outlook remains positive. In the short term, however, uncertainty prevails.

Outlook

According to our model, the current recovery phase appears to be nearing completion. In our base scenario, we therefore anticipate a pullback toward the 50,250-point range.

If a convincing bottom forms around this level, the long-term uptrend could resume. This would bring our price target of approximately 57,000 points into view.

The chart below shows the price movement of the Dow Jones futures contract from the beginning of 2026, including our expected scenario.

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Disclaimer: Investing involves risks. 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 intended for educational purposes only.