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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​Nikkei, Dow and NASDAQ consolidate below recent highs​

​​​Nikkei, Dow and NASDAQ consolidate below recent highs​ ahead of plethora of secondary US data releases.​

Indices charts Source: Adobe images

​​​Nikkei 225 consolidates below three-month high

​The Nikkei 225 came off this week’s three-month high at 40,286 and remains under pressure as Japan's trade balance swung to a deficit as the country's exports fell for the first time in ten months.

​The 7 October low at 38,670 offers minor support, together with the 200-day simple moving average (SMA) at 38,650. Were this support zone to give way, the 55-day SMA at 38,032 would be next in line.

​Only a fall through the 27 September low at 37,265 would point towards a medium-term top being formed.

​Minor resistance can be spotted along the breached August-to-October uptrend line at 39,450 and around the psychological 40,000 mark.

Nikkei 225 chart Source: IT-Finance.com
Nikkei 225 chart Source: IT-Finance.com

​Dow Jones Industrial Average resumes its ascent

​This week’s minor blip to Wednesday’s 42,676 low is followed by a rise towards the Dow Jones' new record high at 43,176. Further up beckons the 43,500 mark.

​While this week’s low at 43,176 and the September-to-October uptrend line at 42,560 hold, immediate upside pressure should be maintained.

Dow Jones chart Source: IT-Finance.com
Dow Jones chart Source: IT-Finance.com

​NASDAQ 100 recovers from Wednesday’s low

​The NASDAQ 100's rise from its early October 19,611 low has last week taken it to its three-month high at 20,499, to above its September peak at 20,316, and close to its July record high at 20,760. While Wednesday’s low at 20,034 underpins, the July, September and current October peaks remain in focus.

​Were 20,034 to give way, though, the August high at 19,938 would be back in the picture, ahead of the 19,611 early October low.

NASDAQ 100 chart Source: IT-Finance.com
NASDAQ 100 chart Source: IT-Finance.com

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.

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