Dow loses ground while S&P 500 hits new high, and Nikkei 225 rebounds through 39,000
While the Dow dropped slightly yesterday, the S&P 500 has hit a new peak. Meanwhile, the Nikkei 225 is showing signs of recovery.
Dow edges lower
After hitting 45,000 last week the Dow Jones index has edged lower slightly. However, the latest record high adds a new higher high to the uptrend, confirming its strength.
December often sees some weakness in the first half of the month, before a year-end rally. As a result, the index may continue to shed some ground this week and next, but a close above 45,000 at a new record high later in the month is a strong possibility.
Dow Jones daily chart
S&P 500 hits new high
The S&P 500 index touched a new record high yesterday, continuing to push on above 6000.
In the short-term, a turn lower may target the early November high at 6022, while below this lies the October high at 5880. As with the Dow, early December seasonality may see progress stall, but the second half of the month usually sees gains.
S&P 500 daily chart
Nikkei 225 pushes through 39,000
A new attempt at a rally is underway, as the Nikkei 225 index rallies off 38,000 and then through 39,000.
Beyond this lies the 40,000 level, which acted as a barrier to upside in October and September. Recent losses have been halted at 38,000 as support, while below this comes 37,270. The index has been in consolidation mode since late September, moving sideways while other indices move to new highs.
Nikkei 225 daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
