DAX 40, Nasdaq 100, Hang Seng 50 - Analysis and Charts
Dax edges higher
The index has moved higher overnight, though it remains below the 50-day simple moving average (SMA) for the time being.A close above the 50-day SMA would help to bolster the bullish view, which has managed to remain just about in place, with the price having held above the mid-April lows.
Further short-term gains target last week’s highs at 18,240, and then on to the record highs from late March. A close back below 17,800 could suggest a fresh test of the April lows.
DAX40 Daily Chart
Nasdaq 100 muted ahead of Apple earnings
A rally in the immediate aftermath of the Fed meeting was knocked back, but the price has managed to avoid a fresh turn lower overnight. This leaves the recovery from the April low just about intact, though it has taken a severe knock. If the price can avoid a close below 17,170 then another push higher may develop, though Apple earnings tonight might make that tricky in the short-term.
If this week has seen a lower high at 17,800, then further losses would head back to 17,000, and from there further towards the 200-day SMA (16,386).
Nasdaq 100 Daily Chart
Hang Seng closing in on six-month high
The index has surged to its highest level since early November, as the recovery in Chinese markets continues apace. After wobbling earlier in the week back towards 17,500, the bullish move appears to be back in place. November’s high at 18,403 is the next level to watch.
There has been little sign of any weakness even in the short-term, and a close below 17,500 would be needed to suggest that a pullback may be underway.
Hang Seng Daily Chart
