Market Analysis

Market AnalysisDow Muted in Early Trading, while Nasdaq 100 Returns to Recent Highs and Nikkei 225 Makes Progress

11 Jun, 2024

Dow Jones 30, Nasdaq 100, Nikkei 225 Analysis and Charts

Dow stabilises but struggles to move higher

After dropping back on Friday the index managed to recover on Monday, holding above the lows of Friday’s session. This allows the price to begin a move back towards the previous highs at 40,000, so long as the 50-day simple moving average (SMA) continues to underpin the price.

Short-term weakness targets the late May lows around 38,000.

Dow Jones 30 Daily Chart

Wall Street Bearish

of clients are net long. of clients are net short.

Change in	Longs	Shorts	OI
Daily	13%	-6%	2%
Weekly	2%	-5%	-2%

Nasdaq 100 is back at a record high

Apple’s conference weighed on the Apple stock price, but gains for Microsoft and Nvidia helped the index to move higher on Monday, moving back towards the highs seen on Friday.A move to new record highs looks to be in play once again, building on the rally from late May.

A close back below 18,950 might then point to some additional short-term weakness.

Nasdaq 100 Daily Chart

Nikkei 225 testing May highs

The index enjoyed solid gains on Monday, recouping the losses of the second half of last week.In the short-term, a close above 39,477, the 20 May high, would mark a fresh bullish development, and potentially spark a move back towards the March record highs.