Dow and Nasdaq 100 rebound stalls, but Nikkei 225 rebound continues
US indices rebounded from their post-CPI low, but gains have since stalled, but the Nikkei 225 continues to make gains.
Dow recoups post-CPI loss but then stalls
Yesterday saw the Dow Jones index drop after the consumer price index (CPI) reading in the US, but it then recovered off the lows.
If it can push back above 44,600 today then the bullish view may once again reassert itself, putting 45,000 into play as an initial target. Beyond this lies a move to new record highs. Sellers will need a close back below 44,000 in order to suggest a more sustained move to the downside is underway.
Nasdaq 100 rebounds from post-CPI low
A similar picture prevails here, as Nasdaq 100 buyers reassert control.
The January highs at 21,940, and then the peak at 22,130, are the next levels to watch before a move to new record highs. Hopes of a turn lower have been stifled for now thanks to the rebound from yesterday’s lows.
Nikkei 225 makes gains
The Nikkei 225 rebound from the lows of last week continues, with the price briefly touching 39,500 overnight.
Further gains will test the 39,830 level from late January, and then on to the highs from a week earlier at 40,500. In the short-term, a close back below 39,000 would signal that a reversal may be in play.
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