Dow advances and S&P 500 struggles around 6000, while Nikkei 225 falls back
The Dow is still targeting its next big round number, but the S&P 500 has stumbled at 6000. Meanwhile, talk of new tariffs has hit non-US markets, and the Nikkei 225 is not immune.
Dow still on course for 45,000
The Dow Jones index has reached new record highs over the last two days, and the 45,000 level is now in sight.
Having stabilised around 43,000 last week, the index has surged through 44,000 and has created a new higher high. The smooth uptrend of the past four months remains intact and puts the index in a position to hit new record highs in the coming weeks.
Short-term weakness targets 43,000 once more, while below this lies the pre-election lows at 41,700.
Dow Jones daily chart
S&P 500 falls back from 6000
This S&P 500 index failed to hold above 6000 yesterday, but the selling has been halted in early trading and a new test of the recent record highs may now be in the offing.
A shallow dip mid-month to 5860 was followed up by fresh gains, maintaining the medium- and short-term bullish view. As with the Dow, a break of the mid-November low opens the way to 5700, the pre-election low.
S&P 500 daily chart
Nikkei 225 drifts lower, holds 38,000
Last week’s move higher has been knocked back by reports of Trump’s plan to impose tariffs on day one of his new administration.
While Japanese imports were not mentioned, the news sent a chill through ex-US indices, taking the Nikkei 225 briefly back to 38,000. However, buyers have defended this level for the time being. A close below the mid-November lows around 37,600 would signal that this support zone has been broken to the downside.
Nikkei 225 daily chart
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