Instrument: US100+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 12109.72 with take profit at 12125.93
Bearish Preference:
A Sell position is envisaged if the price trades below 12050.14 with take profit at 12006.18
Fundamentals:
4PM USD: CB Consumer Confidence
Comment:
Wall Street’s main indexes ended Monday higher, but gave back much of the day’s earlier gains, coming after their worst week so far this year. Investors sought out some beaten down stocks even as nerves remained about the impact of higher interest rates on the U.S. economy. The Nasdaq Composite IXIC was the strongest performer with an 0.6% increase, followed by the S&P 500 SPX and Dow Jones Industrial Average DJI, which were up 0.3% and 0.2%, respectively. Bond markets have repriced for higher rates for longer as the Federal Reserve battles still high inflation while a still strong economy gives it room to tighten policy further. Data on Monday showed that new orders for key U.S.-manufactured capital goods increased by the most in five months in January, while pending home sales, based on signed contracts, jumped 8.1% in January, the biggest gain since June 2020.
Analysis: SCRUM Team
