Global Stock Rally Slows: Decline in Asia

NDX continues its short-term uptrend, but momentum is showing signs of deceleration. The RSI is approaching overbought territory at 66, while the MACD remains positive but the gap between the line and signal is narrowing. News headlines indicate that the global equity rally is slowing, with declines in Asia, which could put pressure on NDX. Although the price remains above the 20- and 50-day moving averages, new catalysts are needed to sustain the uptrend. Therefore, a sideways movement is expected in the short term.

The S&P 500 (SPX) is approaching overbought territory with an RSI of 71, increasing the likelihood of a short-term correction. News headlines indicate a slowdown in the global equity rally and a decline in Asia, pointing to a reduction in risk appetite. Technically, while the price remains above the 20- and 50-day moving averages, the overbought signal and negative news flow could create selling pressure in the near term. Although the MACD is still bullish, a weakening of momentum could accelerate the decline. Therefore, a slight bearish bias is expected over a 1-3 day horizon.

HSI fell 1.27% in the last session to 26,072. The RSI at 33.26 is approaching oversold territory but has yet to signal a recovery. The MACD line remains below the signal line and in negative territory, confirming weak momentum. The price is trading below both the 20-day and 50-day moving averages, weighing on the short-term outlook. Headlines note a slowdown in the global equity rally and declines in Asia, supporting the current technical weakness.