Dow surges and Nikkei 225 moves higher, but Nasdaq 100 continues to drop back
Most indices continue to make gains, but the Nasdaq 100 is still cooling off after its surge to 20,000.
Dow at one-month high
The index continues its strong performance, hitting its highest level in a month on Monday.
The 40,000 highs from April and May now loom large, and a close above these will take the price to new record highs. The price established a higher low at the end of May, maintaining the bullish view.
Sellers will need a close back below 38,850 to negate this view in the short-term.
Nasdaq 100 drifts lower
This index continues to edge lower after its early June surge ran out of steam with the move to 20,000.
Short-term trendline support from the end of May low was broken on Friday, and modest losses have continued since then. The price still remains firmly in an uptrend, but is also still around 5% from the rising 50-day simple moving average (SMA). Further short-term declines would take the price towards the late May high at 18,949.
A rebound back above 19,755, Monday’s high, puts the price on an upward course once more.
Nikkei 225 makes gains
The price surged overnight on Tuesday, building on Monday’s gains.
The first test will be the 39,400, the highs from mid-May, which stalled the last move higher. A close above 39,400 will also put the price above the early June highs. Further gains then target the 40,000 level, followed up by a move towards the March highs.
A reversal back below 38,500 cancels out this view and raises the prospect of another test of support around 38,000.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
