Today's TSE Growth Market 250 Index futures are expected to trade within a range, with buying likely to lead in overnight trading. At the same time, the daily chart's baseline and moving averages are seen providing downside support.
Today's TSE Growth Market 250 Index futures are expected to trade within a range. U.S. equities fell the previous day, and the morning opening is expected to be mixed depending on oil-price movements.
In the U.S. market, the Dow fell and the Nasdaq was also weak, although there was speculation that comments by New York Fed President Williams had eased concerns about continued rate hikes. Against this backdrop, the market began to focus on a potential halt to the decline.
The overnight trading close was 789 points, up 4 points from the previous day's daytime close. The downside and upside reference levels are 780 and 800 points, respectively. The Ichimoku Kinko Hyo baseline at 781 points, the 25-day moving average at 782 points and the lower Bollinger Band at 780 points are seen functioning as downside resistance and support.
Buying is expected to lead the initial move depending on overnight trading, while caution is also warranted over increased selling pressure because the daily indicators have turned negative.