Nasdaq 100, Dow Jones 30, CAC40 Analysis and Charts
Nasdaq 100 at new record
The index climbed to a new record high on Wednesday, rallying through the 19,000 level for the first time.This follows on from a bounce from the lows of last week, when the price rallied from a low at 18,187, near the 50-day SMA.
In the short term, momentum may carry the price further beyond 19,000. A close back below 18,700 would be needed to put a more substantial dent in the outlook.
Nasdaq 100 Daily Chart
Dow rallying from higher low
A fresh higher low appears to have formed after the price rebounded from 38,000 at the end of last week.The price returned to the 50-day simple moving average yesterday, and a close above the 50-day SMA would reinforce the bullish view and would then open the way to the record highs at 40,000.
A close back below 38,500 would then suggest that a retest of 38,000 may follow, and below this lies the April low at 37,236.
DowJones 30 Daily Chart
Wall Street
Bullish
of clients are
net long.
of clients are
net short.
| Change in | Longs | Shorts | OI |
| Daily | -9% | 2% | -3% |
| Weekly | -36% | 17% | -14% |
CAC 40 moves off support
Over the past week the index formed a low around 7900, as it did in April and May.Should this low continue to hold, then we can look towards a fresh rebound towards the 8250 highs from April and May, reviving the uptrend. From there new record highs loom.
CAC 40 Daily Chart