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Nasdaq 100 Hits New Peak; Dow, CAC 40 Climb

Nasdaq 100 Sets New Record

Source: dailyfx.com

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

Source: dailyfx.com

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

Source: dailyfx.com

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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