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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Dow, Nasdaq 100 and CAC40 all come under selling pressure

Indices have seen bullish momentum slip away, as concerns about renewed rate hikes hit risk appetite.

Source: Bloomberg

​​Dow gives back recent gains

The index has fallen this week, dropping back below the 50-day SMA and heading towards the 100-day SMA. It remains above the August lows, but bulls will need a close back above 34,750 to suggest that a new leg higher has begun, which might then see the index target 35,000, followed up by the late July peak at 35,640. 34,000 marked the low of August, so a close below this level would add to the bearish short-term view and bring the 200-day SMA into play, followed up by the June and early July low around 33,630.

Source: ProRealTime

Nasdaq 100 comes under pressure

The Nasdaq 100 saw some weakness on Wednesday, and this has continued into Thursday. In the event that these losses extend into a more sustained pullback, the price may retest the August low around 14,688, which would also see it test the 100-day SMA. Buyers will want to see a move back above 15,400, with a close back above 15,500 signalling fresh bullish momentum, with an initial target of the July highs around 15,900.

Source: ProRealTime

CAC40 back at 200-day moving average

European indices have given back ground over the past week, with the CAC40 surrendering most of the gains made in the second half of August. The price finds itself testing the 200-day SMA once more, as it did a month ago. If it can repeat the August feat and stage a recovery, then the 7400 level becomes an initial target. Continued losses bring the price into the area around 7100, which has acted as support since late May.

Source:ProRealTime

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