Nasdaq 100 and the S&P 500 have recently reached higher levels. Hang Seng falls following a three-month peak.
Nasdaq 100 has remained stable.
The solid climb now continues, without no hint of a reversal in sight. A minor drop in the latter part of July was followed by a run upward. Bringing the value again inside 200 pts from the July top. Over 15,930, the value seeks 16,021mark, followed by the Jan peak of 16,630. Ultimately, a 16,769 record-breaking figure dated late 2020 appears.
In the case of a turnaround, trend line support established in the middle of April enters to activity. With present negative objectives being 15,260 around its 50-day SMA.
Nasdaq 100 Catalyst – The shares of Apple have reached the largest monthly gains in nine years, as this is fueling a raging Nasdaq.
The Apple Inc. represents the largest Nasdaq 100 section, accounting for about 12 percent of the index’s value. The iPhone manufacturer increased 1.3 percent in July, marking the company’s 7t th consecutive solid month. Which is its longest streak after 2014. Recently, the stock valuation has increased by over fifty percent.
Leading internet and technology shares have surged throughout the year. Alongside July being the most recent in a long string of monthly advances.
The benchmark Nasdaq 100 Index gained 3.8 percent last month, marking its seventh consecutive monthly rise. This is the most prolonged straight streak till August 2020. It grew by 44 percent in 2023, thanks to the enthusiasm over artificial intelligence (AI) being a main motivator.
The index is unjustly skewed towards large-cap tech and internet companies, that has pushed the market upward this year. Quarter figures from the industry, notably Alphabet Inc. as well as Meta Platforms Inc. Have demonstrated how big technology maintains to provide solid underpinnings.
Likelihood
We remain forecast worldwide tech profits increase to accelerate during the subsequent part of the year- Reaching less than 10 percent the following year.
The S&P 500 remains near its all-time record high of 2023.
The S&P 500 index itself has likewise witnessed a small decline. Near-term dips during June as well as July attracted purchasers immediately The March 2022 top of 4631 might be tested shortly. While a break over that will place the index at its highest point as of January of 2022. More rises are then aimed at 4743 level, followed by an all-time peak of 4817.
Assuming the case of a downturn, prices will first challenge local trend line assistance from the initial May. Afterwards 4458, then attempting to reach the ascending 50-day simple moving average (now at 4398 level).
The Hang Seng has retreated from a 3-month peak.
The Hang Seng index went lower 0.64%, while other continental Chinese markets also lower. The Shanghai Composite fell 0.36 percent to close the day on 3,290.95 leve., Whereas the Shenzhen Component fell 0.36 percent to 11,143.23 mark.
After a massive comeback from its July bottom. The index has moved again over the 200-day SMA. However, the price had already dipped back to early trade today. The price has fallen down under the June top of about 20,000. Which might be concerning, though considering the magnitude of the advance until the start of July. Significant weakening had been widely foreseen. The price is additionally shifting farther from trend line assistance following the July downturns. possibly making it vulnerable over the near term. Beyond 20,375 mark, the previous day’s top, the price will be targeting for 20,730, the April peak.
