NASDAQ 100, Dow and DAX continue to make gains
Early trading has seen indices moving cautiously higher, on a day devoid of major news flow.
NASDAQ 100 continues to move higher
The NASDAQ 100 index continues to push higher from the lows of last week, recovering in the wake of Netflix’s results.
Last week saw a drop towards 20,000, but buyers entered around 20,030, helping to form a higher low and put the price back on an upward course. Further gains head towards the July high at 20,760, while a close back below 20,000 would be needed to negate this view.
Dow contemplates more gains
The latest run higher from the lows of early October is intact, with the Dow Jones index holding above 43,000 and at a new record high.
Bullish momentum could continue to push the price towards new highs. Trendline support from August is found down towards 42,000 at present, along with the early October low around 41,800.
DAX returns to previous high
The DAX 40 index returned to Thursday’s record high in trading this morning, continuing its uptrend.
Since early October the price has gained 600 points, rallying from the higher low and maintaining the bullish view. In the event of a pullback, the index may target the 18,935 level from early October, and then the 50-day simple moving average (SMA), currently 18,851.
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