Dow off highs but DAX and Hang Seng bolstered by more China stimulus
While the Dow has hit fresh highs this week, the Dax and Hang Seng are among those lifted by reports of yet more stimulus in China.
Dow eases back after fresh record
The Dow Jones index has dropped back after holding at a record high above 42,000 for the past two days.
The late August high at 41,586 would be the first target in the event of a short-term pullback, while below this is the July high at 41,382. Below the latter comes trendline support from the early August low.
DAX surges on news of China spending
Reports of yet more China stimulus have pushed the DAX 40 to new highs. This continues the bounce from the lows of early September, while trendline support from the August low remains in place.
It would need a close back below 18,700 to break trendline support and suggest some additional weakness is likely.
Hang Seng soars as China goes for more stimulus
The Hang Seng has rocketed to the 17,800 area, boosted by news of more stimulus for the Chinese economy.
The price has now broken through trendline resistance from January 2023, and a close above the May highs would see a new higher high created.
Short-term weakness may develop with a close back below 19,000.
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