Dow and S&P 500 futures steady, while Nikkei 225 holds support
The Dow crossed 45,000 for the first time yesterday, while the S&P 500 is back at 6000. Meanwhile, the Nikkei 225 has held support.
Dow crosses new threshold
US cash markets are closed today for Thanksgiving, but the Dow Jones managed to rack up another record high yesterday, pushing above 45,000 for the first time in its history.
The most recent bounce, from 43,000, remains in place, building on the gains made since the election. Steady gains over recent months have maintained the bullish trend, but a close back below 43,000 might signal that some short-term weakness is ahead.
S&P 500 back to 6000
This week has seen the S&P 500 index regain the 6000 level, and further gains into new record highs are possible as we head into December.
In the short-term, the mid-month low around 5865 may provide support in a pullback; this was also resistance in mid-October. Following this is 5700, where the index stabilised ahead of the election.
Nikkei 225 holds 38,000
Buyers have emerged once more as the Nikkei 225 hits the 38,000 level. This area continues to hold as support, and now the price needs to close above last week’s 39,000 high to open the way to another attempt on 40,000.
Sellers need a daily close below 37,550 in order to suggest a break of support and to open the way to the September low at 35,000.
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