Dow and Nikkei 225 fall, while S&P 500’s bounce stalls
The S&P 500 began the week with gains but futures point to slowing momentum. Meanwhile, both the Dow and Nikkei 225 have fallen back.
Dow continues to fall
The Dow Jones index has continued to head lower, and the post-election lows at 43,000 now appear in sight.
A drop to 43,000 would still create a higher low compared to early November, leaving the broader uptrend intact. So far there is no sign of a recovery, but in the short term a close back above 44,000 might signal that a higher low could be created.
Dow Jones daily chart
S&P 500 struggles to push higher
A short-term S&P 500 recovery yesterday seemed to promise a new leg higher, but gains have stalled overnight.
A close back below 6030 could signal further losses towards 6000, while below this the 5880 high from October comes into view. 6100 remains a target in the event of renewed gains. Beyond this lies fresh record highs.
S&P 500 daily chart
Nikkei 225 goes into reverse
After recovering on Monday, the Nikkei 225 index has faltered once again, and 40,000 remains a barrier to further upside.
In the short-term, renewed losses target 38,000, where the index found support in the second half of October. 2024 has turned into a year of consolidation for the index, which has managed to recover from the August low but has seen progress stall in the fourth quarter (Q4).
Nikkei 225 daily chart
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
