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Home ANALYSIS

Major US indices open in the red

A.R Chowdhury by A.R Chowdhury
March 17, 2022
Reading Time: 7 mins read
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Major US indices open in the red

Yesterday the FOMC raise rates by 25 basis points increased their expectations for rate rises in 2022 to 7 from 3 in December. The US stocks rallied as shorts squeezed, and perhaps traders were encouraged by the Fed’s aggressiveness. They are now on par with the analysts. That is a thought at least.

Today the major  indices 
Indices

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track an index. The difference between an index fund’s performance and the index, if any, is called tracking error. Most major countries boast multiple indices. Commonly traded indices include the S&P 500, NASDAQ-100, Dow Jones Industrial Average (DIJA), EURO STOXX 50, Hang Seng Index, and many more.Stock market indices can be characterized or segmented by the index coverage set of stocks. The overall coverage of an index constitutes an underlying group of stocks, most commonly grouped together by underlying investor demand.How to Trade IndicesRetail brokers offer indices exposure through the use of contracts-for-difference (CFDs) or exchange-traded funds (ETFs). Each are popular ways to trade specific markets and are almost always on offer at most brokers.Investors can choose between multiple types of indices that traditionally fall within several categories. This includes country coverage, regional coverage, global coverage, exchange-based coverage, and sector-based coverage.All indices are ultimately weighted in a number of different ways. The most common mechanisms include market-capitalization weighting, free-float adjusted market capitalization weighting, volatility weighting, price weighting, and others.

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track an index. The difference between an index fund’s performance and the index, if any, is called tracking error. Most major countries boast multiple indices. Commonly traded indices include the S&P 500, NASDAQ-100, Dow Jones Industrial Average (DIJA), EURO STOXX 50, Hang Seng Index, and many more.Stock market indices can be characterized or segmented by the index coverage set of stocks. The overall coverage of an index constitutes an underlying group of stocks, most commonly grouped together by underlying investor demand.How to Trade IndicesRetail brokers offer indices exposure through the use of contracts-for-difference (CFDs) or exchange-traded funds (ETFs). Each are popular ways to trade specific markets and are almost always on offer at most brokers.Investors can choose between multiple types of indices that traditionally fall within several categories. This includes country coverage, regional coverage, global coverage, exchange-based coverage, and sector-based coverage.All indices are ultimately weighted in a number of different ways. The most common mechanisms include market-capitalization weighting, free-float adjusted market capitalization weighting, volatility weighting, price weighting, and others.
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are trading lower in early trading as there may be some rethink the economy including inflation, growth or slowing growth, geopolitical tension, etc.. All these stories still remain and provide a tremendous amount of uncertainty. Nevertheless, the market have been oversold and the two day surge (S&P rose 4.4% and  NASDAQ 
NASDAQ

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.
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rose 6.8%), is what can happen.

So onto today, the snapshot of the market 11 minutes into the opening it is showing:

  • Dow industrial average -103.79 points or -0.3% at 33959.32
  • S&P index -11.04 points or -0.25% at 4346.81
  • NASDAQ index -49.13 points or -0.37% 13387.42
  • Russell 2000-2.54 points or -0.13% at 2028.17

Of interest at technically, is that in the S&P index, the price rise yesterday stalled just ahead of its falling 200 hour moving average currently at 4359.70. Back on March 3, the price also tested that 200 hour moving average only to find willing sellers against that level. Going back to February 9 of February 10, the pair briefly moved above the 200 hour moving average only to find sellers quickly thereafter.

If the prices is to go higher, getting above the 200 hour moving average is a major step from a technical perspective. Absent that and buyers could easily turn to sellers in force the price back down toward the 100 hour moving average currently at 4290.43 (blue line in the chart below).

S&P

S&P index stalled against its 200 hour moving average

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In other markets a snapshot currently shows:

  • Spot gold is up $15.96 or 0.83% at $1943.42
  • Spot silver is up $0.31 or 1.24% $25.40
  • WTI crude oil is pushing $102 at $101.96. That’s up $6.93 or 7.29%. Buyers are back in.
  • The price of bitcoin is trading just under $41,000 at $40,996.08

In the US debt market, the yields are modestly changed:

  • two year 1.943%, unchanged
  • 10 year 2.172%, -1.8 basis points
  • 30 year 2.451%, -0.6 basis points

IN the Forex, the AUD remains the strongest and the GBP remains the weakest after they raise rates by 25 basis points but expressed some hesitancy.

Forex

The strongest to weakest of the major currencies
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A.R Chowdhury

A.R Chowdhury

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