Dow 122= 4
Nasdaq 40 = 2
S&P 500 15= 2
Ftse 31 = 1
Nikkei N/A = 0
Futures 39= 2
Market Sentiment 11
Market Sentiment
It is essential that we have a general feeling of which direction our market may trade on any given day.
To achieve this it is necessary to be aware of how global markets have performed on the previous day as well as during the night.
We measure this sentiment by allocating points to certain global indicies to measure their strength or weakness.
We look firstly to The Dow Jones Index. This index is one of the world’s most influential and as such rates very highly in determining the daily sentiment.
We allocate between 2 pts plus or minus if the overnight movement is less than 50pts or 4pts if over 50pts
The next most important indicator is the SPI200 which is the futures contract covering the Australian markets top 200 stocks and trades almost 24hours per day.
We also allocate between 2 and 4 pts as per the Dow.
Then we add both the Nasdaq and the S&P 500 indicies from the U.S they are allocated points as follows
Nasdaq above /below 30 ,plus or minus 2pts or less than 30, 1pt
S&P 500 above /below 15, plus or minus 2pts or less than 15, 1pt
Next we add the FTSE 100 results from England and the NIKKEI 250 from Japan which are allocated 1pt for a plus or minus result.
The maximum points on our table are 14 and variations of this will gauge bullish or bearish sentiment.
Other very important overnight markets to be taken into consideration when trading the Australian market are firstly the strength or weakness in the Aussie dollar versus the US dollar and we rarely have a good day if the commodity markets have been sold down during the night.
Dow 122= 4
Nasdaq 40 = 2
S&P 500 15= 2
Ftse 31 = 1
Nikkei N/A = 0
Futures 39= 2
Market Sentiment 11
Dow -213= -4
Nasdaq -51= -2
S&P 500 -28= -2
Ftse - 150 = -1
Nikkei 46 = 1
Futures -90= -4
Market Sentiment -12
Wall Street and European stocks plummeted as Standard & Poor's cut ratings for Portugal & Greece
Dow 0.75=2
Nasdaq -7.2=-1
S&P 500 -5.23=-1
Ftse 30= 1
Nikkei 251 = 1
Futures -1=-2
Market Sentiment 0
The market lacked direction following a weak lead from Wall Street. Australian producer price index data showed a rise of 1% in the March quarter, sugesting inflationary pressures are building.
Dow 9=2
Nasdaq 14=1
S&P 500 3=1
Ftse -580=- 1
Nikkei -141 = -1
Futures 4=2
Market Sentiment 4
Dow 25=2
Nasdaq 20=1
S&P 500 10=1
Ftse 56= 1
Nikkei -8 =- 1
Futures 44=2
Market Sentiment 6
The Australian sharemarket has received strongly positive leads from offshore trading overnight, with most major markets comfortably higher, including oil and precious and base metals