​​​Dow losses pause for now

​The index failed to hold its highs yesterday, but has managed to avoid a lower close. In addition, the price has opened higher today, bolstering the view that a short-term low has been formed.

​A close above 40,400 helps to solidify the bullish outlook, while sellers will want a close back below Wednesday’s low at 39,803.

Dow Jones Daily Chart

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​Nasdaq 100 rallies off Thursday's low

​Thursday saw the index finish off the lows, bouncing off the 100-day simple moving average (SMA). However, it has yet to push above yesterday’s highs, limiting the potential for a bullish turn higher.

​A close back above 19,150 would signal that a low has formed for the time being.

Nasdaq 100 Daily Chart

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​Dax drifts lower

​While the index finished firmly off the lows on Thursday, there hasn’t been any real bullish momentum overnight.

​A close back above 18,400 would be needed to suggest that a low has formed. A close below 18,130 today would reinforce the bearish view in the near-term.

DAX 40 Daily Chart