Dow Jones 30, Nasdaq 100, CAC 40 Analysis and Charts

​​​Dow drifts lower

​The index rebounded sharply on Friday, but suffered a wobble on Monday, though it did finish well off the lows.​The situation remains finely poised; sellers might drive the price back to, and then below, 38,000, reinforcing the short-term bearish view.

​Should the price close above the 50-day simple moving average (SMA), which held back gains yesterday, then a new move higher toward 40,000 may begin.

Dow Jones Daily Chart

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​Nasdaq 100 firmly off recent lows

​Both Friday and Monday saw the price rally off the lows, helping to sustain the bullish view. A reversal back below the March highs would be needed to put a dent in this view. However, the longer-term bullish view remains in place.

​Additional gains would target the recent record highs around 18,900, with 19,000 lying just beyond it.

Nasdaq 100 Daily Chart

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​CAC 40 rally fizzles out

​Hopes of a sustained rebound were dashed on Monday, as the price rallied towards and then fell back from the 50-day SMA.

​The price finds itself back below 8,000, and the lows of April and May around 7900 are close by. A close below 7850 would suggest a much deeper pullback could be in play, perhaps targeting the 200-day SMA, last tested back in January.

CAC 40 Daily Chart