DAX 40, NASDAQ 100 regain lost ground amid year-end portfolio rebalancing
DAX 40, NASDAQ 100 regain lost ground amid year-end fund manager portfolio rebalancing.
DAX 40 bounces back
The German DAX 40's decline this week seems to have ended at Monday’s 19,748 low as it is regaining some lost ground amid fund manager re-balancing ahead of year-end.
Minor resistance remains to be seen between the psychological 20,000 mark and last week’s high at 20,024.
Support below Monday’s 19,748 low comes in between the October highs at 19,683-to-19,643, the 20 December low at 19,635 and the 55-day simple moving average (SMA) at 19,628.
NASDAQ 100 regains lost ground
The NASDAQ 100's three-day drop to Monday’s 21,025 low has been followed by a minor bounce with fund manager year-end portfolio rebalancing taking the index back above its 21,233 November peak. Together with the 10 December low at 21,316 it may act as resistance, though.
A slip below Monday’s 21,025 trough would put the August-to-December uptrend line and 55-day SMA 20,940-to-20,919 on the map.
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