Dow Jones 30, Nasdaq 100, Nikkei 225 Analysis and Charts

​​​Dow Jones at one-month high

​The index continues its strong performance, hitting its highest monthly level on Monday.​The 40,000 highs from April and May now loom large, and a close above these will take the price to new record highs. The price established a higher low at the end of May, maintaining the bullish view.

​Sellers will need a close back below 38,850 to negate this view in the short term.

Dow Jones Daily Chart

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​Nasdaq 100 drifts lower

​This index continues to edge lower after its early June surge ran out of steam with the move to 20,000. ​Short-term trendline support from the end of May low was broken on Friday, and modest losses have continued since then. The priceremains firmly in an uptrend but is also around 5% from the rising 50-day simple moving average (SMA). Further short-term declines would take the price toward the late May high at 18,949.

A rebound back above 19,755, Monday’s high, puts the price on an upward course once more.

Nasdaq 100 Daily Chart

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​Nikkei 225 makes gains

​The price surged overnight on Tuesday, building on Monday’s gains.​The first test will be the 39,400, the highs from mid-May, which stalled the last move higher. A close above 39,400 will also put the price above the early June highs. Further gains then target the 40,000 level, followed up by a move towards the March highs.

​A reversal back below 38,500 cancels out this view and raises the prospect of another test of support around 38,000.

Nikkei 225 Daily Chart