Nasdaq 100 Hits New Peak; Dow, CAC 40 Climb

Nasdaq 100 Units New Document

The Nasdaq 100 reached an unprecedented excessive on Wednesday, surpassing the 19,000 mark for the primary time. This surge follows a sturdy restoration from final week’s low of 18,187, simply above the 50-day SMA.

Trying forward, the momentum may propel the index additional previous 19,000. Nonetheless, a drop under 18,700 would signify a big reversal within the present bullish pattern.

Dow Jones Positive factors Momentum

The Dow Jones demonstrated resilience, establishing a brand new increased low after bouncing again from 38,000 finally week’s shut. It touched the 50-day SMA yesterday, and sustaining above this degree may solidify the bullish outlook, doubtlessly setting the stage for an method in the direction of the all-time excessive of 40,000.

Conversely, a fall under 38,500 may result in a retest of the 38,000 degree, and probably right down to the April low of 37,236.

CAC 40 Advances from Help

This previous week, the CAC 40 discovered assist close to 7900, mirroring its efficiency in April and Could. If this assist degree holds, the index is poised for a rebound in the direction of the 8250 peak noticed within the previous months, which may restart the uptrend and doubtlessly attain new highs.

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