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Nasdaq 100 Hits New Peak; Dow, CAC 40 Climb
Nasdaq 100 Sets New Record
The Nasdaq 100 reached an unprecedented high on Wednesday, surpassing the 19,000 mark for the first time. This surge follows a robust recovery from last week’s low of 18,187, just above the 50-day SMA.
Looking ahead, the momentum could propel the index further past 19,000. However, a drop below 18,700 would signify a significant reversal in the current bullish trend.
Dow Jones Gains Momentum
The Dow Jones demonstrated resilience, establishing a new higher low after bouncing back from 38,000 at last week's close. It touched the 50-day SMA yesterday, and maintaining above this level could solidify the bullish outlook, potentially setting the stage for an approach towards the all-time high of 40,000.
Conversely, a fall below 38,500 could lead to a retest of the 38,000 level, and possibly down to the April low of 37,236.
CAC 40 Advances from Support
This past week, the CAC 40 found support near 7900, mirroring its performance in April and May. If this support level holds, the index is poised for a rebound towards the 8250 peak observed in the preceding months, which could restart the uptrend and potentially reach new highs.
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