Nasdaq 100, Dow and DAX fall back in early trading
Indices have eased back from the highs seen at the end of last week and in yesterday’s session.
Nasdaq 100 trims its gains
After rallying to a five-week high on Friday, the Nasdaq 100 index has edged lower, pushing back below the 2 April highs.
Last week saw support emerge at 19,000, so a close below this would be needed to suggest some more substantial weakness is at hand.
Nasdaq 100 daily chart
Dow drops back on earnings worries
The Dow Jones index’s steady march higher has been halted for now, having gained over 4500 points from the April low.
The mid-March low at 40,630 may provide some support, and then the price may move to test 40,000 once more. This was support last week in the wake of the gross domestic product (GDP) reading.
A close back above 41,430 would spark a new move to the upside, targeting 42,000 and then the March high at 42,760.
Dow Jones daily chart
DAX nears previous record
The DAX 40 index’s remarkable bounce from the April low has now taken it back to the record highs of March.
The index was some 60 points off the March record high in early trading on Tuesday. Another short-term push higher such as that seen on Monday would carry it to new record highs.
Short-term losses may find support at the early April high at 22,689.
DAX 40 daily chart
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