Dow Jones, Nasdaq 100, Hang Seng Analysis and Charts

​​​Dow 40K in sight again?

​Wednesday’s session saw the index stage a revival, and the march back to 40,000 is on once more.​The price found support at the previous record high set in February at 39,287, with short-term resistance there turning into support. The totemic 40,000 level is in sight again.

​Short-term support from the January low remains in place, as does the 50-day simple moving average (SMA).

DowJones Daily Price Chart

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​Nasdaq 100 edges down

​This index continues to drift lower, though it has only registered modest losses over the past week. ​A series of intraday lower lows put short-term pressure on the index, though it has yet to test the rising trendline from early January or the 50-day SMA.

​The previous high at 18,468 still looms as the last hurdle before a new record high.

Nasdaq 100 Daily Price Chart

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​Hang Seng pullback stabilises

​The pullback from the highs earlier in March has run out of momentum in the short term. ​The past week has seen buyers defend the 16,320 area, and if the price manages a close above 16,800 then we may see a fresh move higher back towards the 200-day SMA and then the 17,200 high from early March.

​This would put the price back above trendline support from January’s low and point the way to more upside. Sellers will need a close below 16,300 to suggest a bearish view prevails again.

Hang Seng Daily Price Chart