Dow Jones, Nasdaq 100, Nikkei 225 Analysis And Charts ​​​Dow Above 37,000

The index has recently surged to a seven-week peak, though it still trails the record highs set in May, contrasting with the S&P 500 and Nasdaq 100. Further advances are aimed at surpassing the May peak of 40,080. Presently, ongoing higher intraday lows signal bullish momentum, with the short-term outlook remaining positive as long as the price remains above the 50-day simple moving average (SMA) at 39,125.

A close below 39,000 would invalidate the short-term bullish perspective, potentially paving the way towards levels of 38,500 and subsequently 38,000.

DOW JONES DAILY PRICE CHART

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Nasdaq 100 At New Highs Ahead Of CPI

The index achieved another record high today, showing no signs of pre-CPI jitters. Short-term support remains intact from the trendline starting at the July 1 low. However, a close below 20,500 could suggest that a temporary peak has been reached.

Currently, there are minimal indications of a significant pullback emerging at this time.

NASDAQ 100 DAILY PRICE CHART

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​ ​NIKKEI 225 Continues To Surge

The index has surged approximately 12% in less than a month, breaking through the historic milestone of 42,000. While short-term consolidation is possible, the overall bullish outlook remains robust. Any brief pullback in the near term might target the previous record high at 41,163.

NIKKEI 225 DAILY PRICE CHART

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The Dow Jones 30, Nasdaq 100, and Nikkei 225 continue to show distinct trends in their recent analyses and charts.

The index made another attempt to achieve substantial gains on Monday, pushing towards the 39,500 mark, but ultimately retracing from session highs, mirroring Friday’s pattern. Despite these fluctuations, there hasn’t been a significant-close lower, indicating persistent buyer interest around the 39,000 level. This consolidation suggests a pivotal short-term range that could dictate the index’s next decisive move.

For a clearer outlook, breaking above 39,500 would signal a bullish breakthrough, potentially paving the way toward revisiting May’s peak levels. On the other hand, a close below 39,000 could trigger a downward momentum towards the June lows, approximately around 38,270. This juncture underscores the importance of monitoring key support and resistance levels to gauge market sentiment and anticipate potential shifts in trend.

The market’s ability to sustain levels above 39,500 would validate bullish momentum and reinforce the case for further upside, driven by renewed investor confidence and buying interest. Conversely, a breach below 39,000 might prompt caution among traders, possibly leading to increased selling pressure and a retest of recent lower support levels.

Technical analysis plays a crucial role in identifying these pivotal levels and interpreting market behavior. Observing price action around these thresholds provides insights into market sentiment and potential trading opportunities. Traders and investors alike are closely monitoring developments, ready to adjust their strategies based on how the index reacts to these critical levels in the coming sessions.

while the index faces resistance near 39,500 and support around 39,000, the resolution of this short-term range will likely dictate the index’s next directional move. Market participants are advised to remain vigilant and responsive to emerging trends, leveraging technical indicators and chart patterns to navigate the current market environment effectively.

​NASDAQ 100 STILL EDGING HIGHER

Following the rebound from its late June low at 19,500, the index showed a positive start to the week, extending gains from the previous week’s bounce. This upward momentum is now targeting a retest of the 20,000 peaks observed in mid-June. Surpassing this level would propel the index into new record-high territory, potentially signaling further bullish sentiment and investor optimism.

A short-term bearish scenario would necessitate a close below the critical support level at 19,500. This level not only marks the recent low but also serves as a key pivot point that could indicate a reversal in momentum if breached. Monitoring price action around this level will be crucial for assessing the index’s resilience and the strength of bullish momentum.

Overall, the index’s trajectory remains focused on breaking above 20,000, a level that holds significant psychological and technical importance. Confirmation of sustained upward movement beyond this milestone would likely attract renewed buying interest and fuel aspirations for continued record highs in the near term.3.5

NIKKEI 225 SURGES THROUGH 40,000

The index surged overnight, reclaiming levels above 40,000 and reaching its highest point since June 4th, signaling a potential resumption of the uptrend that began from the lows in Q4 2023. The next target on the horizon is the April highs near 41,000, with further gains potentially pushing the index to new record highs.

Over the past two weeks, buyers have regained control, reversing the earlier bearish sentiment. In the short term, to indicate a potential downturn, the index would need to close below 39,000, followed by a breach of the critical support level at 38,000, which held significance in both May and June. These levels act as important markers that could signal a shift in momentum and sentiment, prompting caution among traders and investors.

Monitoring these support levels closely will be crucial for assessing the index’s strength and resilience amidst market fluctuations. As the uptrend potentially continues, sustained buying interest could drive further gains, bolstered by positive market sentiment and economic indicators. However, maintaining vigilance around key support and resistance levels remains essential for navigating the current market environment effectively.

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The FTSE 100 maintains a range-bound trading pattern with a bullish inclination

The FTSE 100 remains range-bound, trading above the 55-day simple moving average (SMA) at 8,213 but below Tuesday’s peak of 8,314. A breakthrough above this level would target the early June peak of 8,364. Conversely, a drop below Friday’s low at 8,187 might trigger a decline towards the May low of 8,138.

FTSE 100 Chart

The DAX 40 has reclaimed its position above the 50% retracement level.

The DAX 40 has moved above the 50% retracement level of the April-to-May advance, currently at 18,170. It is targeting the 55-day simple moving average (SMA) at 18,331, along with resistance levels such as Monday’s high at 18,357 and the early June low at 18,361.

If it retraces below the 50% level at 18,170, minor support is anticipated around Tuesday’s low of 18,071.

DAX Daily Chart

The S&P 500 has resumed its upward climb

The S&P 500 has recovered from recent losses and is approaching its Monday peak at 5,491, with its all-time high at 5,517 just above. This bullish outlook remains valid as long as Monday’s low at 5,444 holds as support. However, a unexpected drop below this level could prompt a revisit of the mid-June low at 5,393.

S&P 500 Daily Chart