Dow and S&P 500 climb but Nikkei 225 struggles
US indices are recovering from their recent lows, but the Nikkei 225’s move higher appears to have stalled.
Dow pushes higher from Monday low
The Dow Jones index rebounded above 42,000 yesterday, halting the selling that took place on Friday.
Early trading has seen some additional gains, which may put the index on course for a fresh test of 43,000. Having dropped some 3000 points from the December record high, signs of a rebound are now beginning to emerge with the defence of 42,000.
S&P 500 makes headway
This S&P 500 index recovered on Monday following a brief dip below 5800.
The defence of this level could set up a fresh attempt to push higher, targeting 6000 and then 6100, the latter being the record high from early December.
A new bearish view requires a move back below 5800.
Nikkei 225 struggles
Monday’s recovery fizzled out, and the Nikkei 225 index has failed to hold on to the 39,000 level.
A renewed push lower targets 38,000, where the index found support in November. In the longer-term, the 40,000 remains a barrier to further progress higher, as we have seen since September.
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