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.
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