Dow, S&P 500 futures and Nikkei 225 make modest gains
US indices have stabilised after the post-election pullback, while tentative buying has emerged in the Nikkei 225.
Dow steadies after recent losses
The Dow Jones index has dropped back from the post-election record high, though the longer-term uptrend is still in place.
Recent weakness has been accompanied by a cooling of the stochastic indicator, but the price has held around the October high at 43,330. A renewed move higher targets the November record high. Further losses could see the price move towards the early November low just below 42,000.
S&P 500 higher for a third session
A similar picture prevails here, and after a week of losses, buyers are already emerging.
Like the Dow, the S&P 500 uptrend is still firmly intact, and the 6000 level now beckons in the event of more gains. A continuation of losses would push the price back below the October high and then below 5800, and then test the 5700 support zone.
Nikkei 225 recovers from recent low
Over the past two sessions, the Nikkei 225 index has managed to stem the run of losses seen earlier in the month.
The price has recovered from the 38,000 level, and further gains head towards the 40,000 level that marked a barrier to further upside in October and November.
Daily stochastics have fallen from near overbought territory and may well give a bullish crossover in coming days. The overall uptrend from the August lows, characterised by higher lows, is still in place.
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