Dow and NASDAQ 100 come under fresh pressure, while DAX drops back from yesterday’s highs
Indices are heading lower once more, as disappointing earnings from key companies hit sentiment.
NASDAQ 100 on the back foot
Hopes of a bounce have faded here, though the NASDAQ 100 index is holding above the 50-day simple moving average (SMA), currently 19,503. A close below the 50-day SMA marks a fresh short-term bearish development, targeting the previous highs at 18,949.
Buyers will need a close back above 19,900 to suggest that a push higher is underway once more.
DAX eases back from highs
The DAX 40 index succeeded in pushing to a one-week high on Tuesday, before dropping back from its highs. It remains above Monday’s lows, but a close today below the 50-day SMA would put more short-term pressure on the price.
This would then test Monday’s lows around 18,150, before moving on to test the June lows at 18,000.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
