Nasdaq 100 and FTSE 100 come under pressure
Growth worries are pushing indices lower, as investors turn more risk-averse.
Nasdaq 100
After surging in the wake of the Federal Reserve (Fed), the Nasdaq 100 index slumped early on Thursday, but it managed to avoid closing below 19,500.
19,900 has marked the index’s limit this week, but a close above here would help to bolster the bullish short-term outlook, though the price remains below its 200-day simple moving average (SMA) (currently 20,286). A close back below 19,500 would put more pressure on the price, suggesting a possible retest of the lows around 19,100.
FTSE 100
While the FTSE 100 index did see some volatility yesterday, it held its ground and avoided a dip below Wednesday’s low.
This leaves it well-positioned to make another attempt to push back to the 8900 highs from the beginning of March. A close back below 8650 would signal the possible beginning of a new drop. This might then target 8500.
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