NASDAQ 100 at new high and Nikkei 225 rallies to 40,000, but Dow continues to struggle
US tech stocks powered higher yesterday, and the Nikkei 225 showed fresh strength, but the Dow’s recent poor run continued.
NASDAQ 100 hits another new high
The NASDAQ 100 index broke to a new record high yesterday, its 36th for the year.
So far, the index shows no sign of surrendering its upward momentum. After a brief consolidation around last week’s record high, the price surged once more. A reversal back below 21,200 might point the way to some short-term weakness, but for the moment the buyers are now eyeing up 22,000.
Dow pullback continues
In contrast to the NASDAQ 100, the Dow Jones is going through its most extended pullback in a month.
Mid-November weakness found support around 43,000, so any low above this would form a higher low and reinforce the uptrend. Any revival in coming days targets 45,000 and higher.
Nikkei 225 tests 40,000
Strong gains over the past two weeks, including yesterday, have carried the price back to 40,000.
This level has stymied progress since late September. A brief close above it in October was swiftly reversed, and thus a sustained move above 40,000 would mark a fresh leg higher, potentially putting the index on course to hit the July record high.
A resumption of the recent range trade would target 38,000 support once more.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
