Dow Jones, Nasdaq 100, Nikkei 225 Analysis and Charts

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Recommended by Chris Beauchamp ​​​Dow recovery goes on

​The index continues its recovery from the lows of last week, and Monday’s session saw it move back above the 100-day simple moving average. ​The flood of major earnings over the coming two weeks may mean that the index experiences a more volatile period, even if it does continue to rebound. Further gains target 39,000, which provided some resistance earlier in the month, and then on to 40,000.

​​A close back below 38,000 could suggest the price will head back towards 37,500, retesting last week’s low.

Dow Jones Daily Chart

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​Nasdaq 100 braces for big tech earnings

​The pullback in the index paused yesterday, as the price reached 17,000. A small gain helped to suggest that a low may be forming.​The big tech earnings that dominate this week and next may mean that the index struggles in the short-term, though with the percentage of index members below their 20-day SMA hitting 5% last week a short-term bounce still seems likely.

​​A close above 17,415 and the 100-day SMA helps to build a short-term bullish view. Sellers will want to see a close back below 17,000, which could then open the way to the January low at 16,177.

Nasdaq100 Daily Chart

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​Nikkei 225 returns to 100-day SMA

​As with other indices, the Nikkei 225 has seen its pullback pause over the past three sessions.​Buyers appeared last week when the index dropped below 37,000, and the index then pushed back to the 100-day SMA. A close above the 100-day SMA would add strength to the bullish view, while the price then targets the early April highs around 39,860.

​37,000 continues to hold as support for now, so a break below here is needed to put the bearish view back on track.

Nikkei 225 Daily Chart