Dow and NASDAQ 100 see losses ease, but DAX still under pressure
Dow losses pause for now
The Dow Jones index failed to hold its highs yesterday, but has managed to avoid a lower close. In addition, the price has opened higher today, bolstering the view that a short-term low has been formed.
A close above 40,400 helps to solidify the bullish outlook, while sellers will want a close back below Wednesday’s low at 39,803.
Source: ProRealTime Source: ProRealTimeNASDAQ 100 rallies off Thursday low
Thursday saw the NASDAQ 100 index finish off the lows, bouncing off the 100-day simple moving average (SMA). However, it has yet to push above yesterday’s highs, limiting the potential for a bullish turn higher.
A close back above 19,150 would signal that a low has formed for the time being.
Source: ProRealTime Source: ProRealTimeDAX drifts lower
While the DAX 40 index finished firmly off the lows on Thursday, there hasn’t been any real bullish momentum overnight.
A close back above 18,400 would be needed to suggest that a low has formed. A close below 18,130 today would reinforce the bearish view in the near-term.
Source: ProRealTime Source: ProRealTime