15 Aug, 2024

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15th Aug,2024

Nasdaq 100 still moving higher

​So far there has been no indication of a reversal, though a drop below 18,800 might signal that some near-term weakness is at hand, potentially targeting the 200-day SMA once more, as well as the lows of August around 17,500.

 

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​Dow is back above 40,000

​The rebound goes on for this index too, having recouped the 40,000 level, and in early trading, it is testing the 40,080 highs from May.

​Additional gains would now take the price on to 41,000 and then 41,382, the latter being the record high. Sellers will need a reversal back below 39,000 to indicate a new test of the early August low around 38,500.

 

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​Nikkei 225 pushes higher

​Having recouped all its losses from the open on 5 August, the index has now recovered the losses from Friday 2 August. This remarkable bounce shows no sign of stopping at present.

​Further gains will target the 200-day SMA at 38,144, once it has closed above the 36,707 level, the low from mid-April.