Dow and Nasdaq 100 rebound stalls, but Nikkei 225 rebound continues
US indices rebounded from their post-CPI low, but gains have since stalled, while the Nikkei 225 continues to rise.
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, before recovering 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 to suggest a more sustained downside move is underway.
Dow Jones daily chart
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.
Nasdaq 100 daily chart
Nikkei 225 makes gains
The Nikkei 225 rebound from last week's lows continues, with the price briefly touching 39,500 overnight.
Further gains will test the 39,830 level from late January, and then move 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.
Nikkei 225 daily chart
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