Fresh record highs for US stocks, DAX oscillates
Boeing leads the gains in the Dow, while Tesla’s record high leads the gains in the Nasdaq
Dow Technical analysis, overview, strategies, and levels
For the Dow’s components, it was Boeing that’s been in the news with its CEO fired and where it outperformed compared to the rest, with Disney at the bottom. As for sectors, energy outperformed followed by industrials, while the underperformer in the red were utilities and real estate and following dismal US housing data. Nearly all its main technical indicators continue to flash green, and with its bull trend technical overview intact but offering little in the way of intraday (and intraweek) buy breakout strategies, hence the stalling feature. Market hours are shorter today ahead of tomorrow’s closure, and hence trading is expected to remain light.
IG client and CoT sentiment for Dow
In sentiment, retail bias remains heavy short but has backed off slightly to 74%.
Dow chart with retail and institutional sentiment
Nasdaq Technical analysis, overview, strategies, and levels
Another fresh record high for the Nasdaq, with its longest streak on record for the tech index. In terms of its components, Tesla was at the top powering further away from its $400 mark with a fresh record high, and certainly keeping its bull trend technical overview intact whereby all its main technical indicators continue to flash green.
IG client and CoT sentiment for Nasdaq
However, once again, intraday gains were limiting at best, and testing traders’ patience whereby extreme short bias amongst retail traders has dropped from 78% to a heavy short 75%.
Nasdaq chart with retail and institutional sentiment
DAX Technical analysis, overview, strategies, and levels
There was little data to go on yesterday for the DAX, with German import prices better than expected but offering little else. Most of its components were in the red led by Deutsche Bank at the bottom in terms of performance. There’s a bank holiday today in observance of Christmas Eve, as well as for the next two days. From a technical standpoint, while its bullish there’s no denying it has stalled considerably at current levels, failing to offer fresh highs that can stick.
IG client and CoT sentiment for DAX
What it has been able to do is aid retail traders holding a majority short bias and offering them a chance to close out shorts, with the bias dropping here from a heavy short 67% as of yesterday morning to 64% as of today.
DAX chart with retail and institutional sentiment
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
