Nasdaq 100 and Dow hit new highs while Nikkei 225 rally gathers pace
US indices have started December well, and the Dow and Nasdaq 100 are the latest to hit new highs. Meanwhile, the Nikkei 225’s gains have continued.
Nasdaq 100 at new high
The Nasdaq 100 surged to a new high yesterday, a day after breaking through the earlier November record high.
Momentum continues to power the index to fresh highs and shows no sign of a reversal. A close back below the November high of 21,233 and then below 21,000 could signal that some short-term weakness is in play. This might then target 20,350, and then the pre-election 20,000 low.
Nikkei 225 continues to rally
Three days of strong gains have put the Nikkei 225 on course to test the 40,000 level once more.
This has acted as a barrier to more gains in recent months. A close above 40,270 would open the way to the March high at 41,163 and from there the record high from July at 42,485 becomes the next target. Recent losses have been stalled at 38,000, so a close below this is needed as a catalyst for more substantial downside.
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