Dow edges up while S&P 500 struggles and Nikkei 225 comes under pressure
Rising yields have continued to put pressure on global indices, though the Dow is holding support for now.
Dow Jones sees renewed buyer interest
Earlier gains this week stalled at 43,000, but once again, Dow Jones buyers have stepped in to defend the recent lows above 42,000.
If these lows continue to hold, we may witness another push towards 43,000. Beyond this level, the late December high of 43,300 looms. A close above this mark could set the index on a trajectory to retest its record highs at 45,000 once again.
Wall Street daily chart
S&P 500 fails to make gains
The S&P 500 index has faced challenges in making gains this month, retreating from 6000 earlier in the week.
The formation of two lower highs since the December record high supports a short-term bearish outlook. However, support remains intact around 5850. Should the index begin to climb, the initial targets are 6000, followed by 6050.
S&P 500 daily chart
Nikkei 225 retreats from highs
Gains proved fleeting for the Nikkei 225 index as well, which briefly surpassed 40,000 earlier in the week before falling back.
Support was established at the end of December and in early January around 39,200. Should the index drop below this level, it could be headed towards the mid-December low of 38,260.
Nikkei 225 daily chart
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