Publication date: November 6, 2025
It is Thursday, November 6. The AEX notes 970 in the morning session. That is 7 points (0.7%) lower than last week's reading.
What happened on the AEX in the past week?
After a couple of positive weeks, the AEX corrected last week. Monday, the index opened at 971 and reached the provisional weekly high of 976 the same day.
On Tuesday, the AEX corrected more than 2% to the weekly low of 955. This drop was caused by falling prices across a broad front, led by the major Tech funds. Wednesday, the upward strength was found again and the AEX recovered from the dip by a nice rise to 973.
What does this mean for sentiment on the AEX?
Overall sentiment on the AEX is underlying optimistic, but there is extra vigilance lurking in the market.
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What is the outlook for the AEX?
Last week's correction to the 955 is, in our algorithm's most likely scenario, the prelude to a tentative new top around the 995 level. Subsequently, the AEX will experience a larger correction that could bring the AEX back about 5 to 6% to the 951 - 939 zone.
Then, the rise will start towards the longer-term price target of at least 1,015. Below 880, the longer-term positive scenario expires and the AEX enters a neutral zone with an increased risk of further decline. As long as 880 holds, the positive scenario remains in place.
Above is the chart of the AEX as of January 2025. The arrows indicate the most likely scenario for the coming months.
What happened on the Nasdaq over the past week?
The Nasdaq futures are at 25,650 on Thursday morning, November 6, which is 590 points (2.25%) lower than last week.
The Nasdaq futures experienced the expected correction over the past week after a very strong week in which it nearly reached the price target of 26,500 with a high of 26,400.
What is the outlook for the Nasdaq futures?
Positive with a longer-term price target of 27,800. In the most likely short-term scenario, the Nasdaq will test the level around 26,650 and then begin a larger correction to a level of 24,000 points. With a close below 22,200, the positive scenario expires.
Below is the chart of the Nasdaq futures as of January 2025 with the most likely scenario.
What happened on the Dow Jones Industrial Average (DJIA) Index this past week?
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What is the outlook for the Dow Jones Industrial Average Index?
The outlook is positive with a new long-term price target of 50,000. In the most likely scenario, the DJIA can test the record zone around 48,500 in the short term before beginning a larger correction to the 45,500 level.
After that, the move can begin toward the longer-term price target of 50,000. The scenario expires at a close below 43,200.
Below is the chart of DJIA futures from January 2025 with the most likely scenario plotted.
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