Dow Jones 30 Advances
The Dow Jones experienced a rally on Monday, offsetting recent declines. Friday’s activity saw the index rebound from its rising trendline support, setting its sights on the trendline resistance established by the May record high.
Surpassing this resistance, and the 39,000 level, could propel the Dow towards the 40,000 milestone. Conversely, a dip below the trendline support at 38,300 might suggest a shift to a bearish outlook.
Nasdaq 100 Nears Milestone
The Nasdaq 100 nearly reached the 20,000 mark in Monday’s trading, breaking past previous peaks. The index shows no signs of reversing its upward trajectory yet.
If it falls back below 19,500, it might indicate that the current peak could be its limit for now.
Nikkei 225 Falters Despite Recovery
Although the Nikkei 225 managed a modest recovery on Monday from the 38,000 low, it failed to sustain momentum. The index dropped below the 50-day simple moving average (SMA) again, with immediate resistance seen around last week’s high of _39,000.
A close beneath 38,000 might lead to a bearish outlook, potentially revisiting the April lows near 37,000.
