Acuity Signal Centre: Indices 28 Feb 2022

28 Feb 2022
8.56pm SGT

DOW30

Bias: Bearish

We look to Sell at 34400 with target prices of 33440 and 33135, and a stop price of 34720

Confidence: 60%

Technical Analysis

  • We are trading at overbought extremes
  • The current move higher is expected to continue
  • With the Ichimoku cloud resistance above we expect gains to be limited
  • We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower

NASDAQ

Bias: Bearish

We look to Sell at 14255 with target prices of 13660 and 12910, and a stop price of 14455

Confidence: 60%

Technical Analysis

  • We are trading at overbought extremes
  • Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible
  • This is negative for sentiment and the downtrend has potential to return
  • Preferred trade is to sell into rallies

US500

Bias: Bearish

We look to Sell at 4405 with target prices of 4265 and 4120, and a stop price of 4450

Confidence: 60%

Technical Analysis

  • Buying pressure from 4262 resulted in prices rejecting the dip
  • The current move higher is expected to continue
  • The bias is still for lower levels and we look for any gains to be limited
  • Preferred trade is to sell into rallies