Dow Faces Resistance at 40,000
The Dow briefly surpassed 40,000, reaching a document excessive, earlier than retreating. After its sturdy climb from late April, a interval of short-term consolidation or pullback wouldn’t be sudden.
The earlier peak at 39,287 would possibly supply some assist, with extra assist probably coming from the 50-day easy transferring common. Regardless of current fluctuations, the general bullish development will persist until the index falls beneath 38,500.
Nasdaq 100 Units New Report
Equally, the Nasdaq 100 marked a brand new excessive and maintained its upward trajectory. The bullish sentiment continues, with expectations for additional document ranges, although upcoming earnings from Nvidia might inject some volatility.
Ought to the index shut beneath 18,400, it would recommend the formation of a short-term peak and a potential retest of the 18,000 degree.
Russell 2000 Nears Earlier Peaks
In distinction, the Russell 2000 nonetheless trails its 2024 excessive and stays considerably beneath its all-time excessive from November 2021. Nevertheless, the index’s medium-term outlook is optimistic, aiming for the March excessive at 2140, with potential development in the direction of the January 2022 intermediate peak at 2220.
Whereas sellers haven’t but taken management, an in depth beneath 2085 would break the short-term assist trendline established for the reason that April low.
The publish Blended Actions in Main Indices: Nasdaq 100, Dow, and Russell 2000 appeared first on Dumb Little Man.
