Acuity Signal Centre: Indices 16 Mar 2022

16 Mar 2022
8.48pm SGT

DOW30

Bias: Bullish

We look to Buy at 33491 with target prices of 34056 and 34310, and a stop price of 33290

Confidence: 40%

Technical Analysis

  • Preferred trade is to buy on dips
  • Previous resistance at 33500 now becomes support
  • Although the anticipated move higher is corrective, it does offer ample risk/reward today
  • Trading has been mixed and volatile

NASDAQ

Bias: Bearish

We look to Sell at 13820 with target prices of 13495 and 13300, and a stop price of 13927

Confidence: 60%

Technical Analysis

  • We look to sell rallies
  • Previous resistance located at 13800
  • There is scope for mild upward pressure at the open but we look for selling interest to resist gains
  • The bias is still for lower levels and we look for any gains to be limited
  • This provides an excellent risk/reward opportunity to fade the current bullish move

US500

Bias: Bearish

We look to Sell at 4420 with target prices of 3950 and 3930, and a stop price of 4610

Confidence: 60%

Technical Analysis

  • We are trading at overbought extremes
  • This is negative for sentiment and the downtrend has potential to return
  • Previous resistance located at 4422
  • Preferred trade is to sell into rallies

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