NASDAQ 100, Dow and DAX continue to rebound
After recouping some of their recent losses last week, indices are looking for further gains.
NASDAQ 100 looks for more gains
The NASDAQ 100 index finished up on the week, having rallied back above 18,000 as well as holding above the 200-day simple moving average (SMA).
For the moment, the buyers remain in control, having lifted the index from its lows. Further gains target 19,000 and then the late July high at 19,500. A close back below 18,000 might signal that a new leg lower has begun.
Dow claws back losses
A bullish view prevails here too, after the Dow Jones index rebounded from the lows of the week around 38,500.
A close back above the 50-day SMA would help to bolster the bullish view, and open the way to 40,000 and higher. Sellers will need a close back below 39,000 to suggest a retest of the recent lows.
DAX pushes higher
Having nearly hit 17,000 last week the DAX 40 index has recovered well, moving back above the 200-day SMA.
It has recovered the April low, and now looks poised to test 18,000. A close above this helps to support a view that the index will retest the July highs. Sellers will want to see a close back below 17,500 to put it back below the 200-day SMA.
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