DAX 40, NASDAQ 100 regain lost ground amid year-end portfolio rebalancing
DAX 40, NASDAQ 100 regain lost ground amid year-end fund manager portfolio rebalancing.
DAX 40 bounces back
The German DAX 40's decline this week seems to have ended at Monday’s 19,748 low as it is regaining some lost ground amid fund manager re-balancing ahead of year-end.
Minor resistance remains to be seen between the psychological 20,000 mark and last week’s high at 20,024.
Support below Monday’s 19,748 low comes in between the October highs at 19,683-to-19,643, the 20 December low at 19,635 and the 55-day simple moving average (SMA) at 19,628.
NASDAQ 100 regains lost ground
The NASDAQ 100's three-day drop to Monday’s 21,025 low has been followed by a minor bounce with fund manager year-end portfolio rebalancing taking the index back above its 21,233 November peak. Together with the 10 December low at 21,316 it may act as resistance, though.
A slip below Monday’s 21,025 trough would put the August-to-December uptrend line and 55-day SMA 20,940-to-20,919 on the map.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.
Take a position on indices
Deal on the world’s major stock indices today.
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
