Dow muted in early trading, while Nasdaq 100 returns to recent highs and Nikkei 225 makes progress
While the Dow continues to struggle, the Nasdaq 100 is back at its previous peak. The Nikkei 225 has made a solid start to the week and is looking to move higher.
Dow stabilises but struggles to move higher
After dropping back on Friday the index managed to recover on Monday, holding above the lows of Friday’s session.
This allows the price to begin a move back towards the previous highs at 40,000, so long as the 50-day simple moving average (SMA) continues to underpin the price.
Short-term weakness targets the late May lows around 38,000.
Nasdaq 100 back at record high
Apple’s conference weighed on the Apple stock price, but gains for Microsoft and Nvidia helped the index to move higher on Monday, moving back towards the highs seen on Friday.
A move to new record highs looks to be in play once again, building on the rally from late May.
A close back below 18,950 might then point to some additional short-term weakness.
Nikkei 225 testing May highs
The index enjoyed solid gains on Monday, recouping the losses of the second half of last week.
In the short-term, a close above 39,477, the 20 May high, would mark a fresh bullish development, and potentially spark a move back towards the March record highs.
A reversal back below the 50-day SMA would be needed to negate this bullish outlook.
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