Dow & Nasdaq 100 edge lower while Hang Seng hits new 14-month low
While US markets have seen some more small losses, the Hang Seng has lurched to its lowest level since November 2022.
Dow consolidation goes on
The Dow continues to consolidate, with no sign yet of a fresh break to the upside.
Futures were muted in Monday’s limited trading, but there is also little indication that a more substantial pullback is at hand. If one does develop it may target the rising 50-day simple moving average (SMA).
It would take only a small bounce for the index to push to a new all-time high.
Nasdaq 100 on the back foot
After last week’s recovery, upside progress has stalled, but the Nasdaq 100 remains within easy distance of fresh record highs.
Last week saw a brief dip towards 16,630, with buyers emerging to defend this level. Thus a close back below this may provide some short-term bearishness, towards the 50-day SMA.
Conversely, a close back above 16,980 would leave the index in fresh record territory.
Hang Seng hits 14-month low
The Hang Seng continues to tiptoe towards new lows in its current downtrend.
Further downside seems likely, with the break below 16,000 to a fourteen-month low bolstering the bearish view. Now it continues to eat into the gains made in November 2023, in the direction of the 2022 low around 14,620.
A close back above 16,450 is needed to suggest a fresh short-term rebound may have begun.
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
