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​​Dow and NASDAQ 100 at record highs, but Hang Seng slips again on stimulus disappointment​

While US indices are still on a high following the election, the Hang Seng has fallen again as a lack of new stimulus measures disappoints investors.

Trading graphs Source: Adobe images

​​​Dow pushes higher

​After surging last week to a new high the Dow Jones index has continued to make some small gains, holding above 44,000.

​The latest surge has seen the price gain 2000 points in a week, so some consolidation here would not be surprising. Having surged to a new higher high, off the back of a higher low last week, the outlook remains firmly bullish. Some extended short-term weakness may develop if the index closes back below the October record high at 43,330.

Dow Jones chart Source: IG
Dow Jones chart Source: IG

​NASDAQ 100 close to record

​Last week’s gains finally saw the NASDAQ 100 index rejoin the Dow and S&P 500 at record highs.

​Further gains have stalled over the past 24 hours, perhaps unsurprisingly, but the bullish trend is still in place. Further gains above 21,240 would suggest a new push to record highs is underway. In the short-term, a drop back towards the 11 July highs might find support.

NASDAQ 100 chart Source: IG
NASDAQ 100 chart Source: IG

​Hang Seng continues to fall

​The brief bounce of early November has given way to more downside, as the disappointment over the lack of new stimulus announcements weighs heavily on the Hang Seng index.

​The price has dropped below 20,000 once more, moving below the October lows and giving back more of the gains made since September. It is also now testing the highs of May, and a weak close here could open the way to more downside towards 19,000.

​Buyers need a close back above 20,000 to suggest a recovery attempt is in play.

Hang Seng chart Source: IG
Hang Seng chart Source: IG

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.

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