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Article by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq 100, CAC 40 Analysis, Prices, and Charts​​​Dow heading back towards 34,000

​​​​Dow heading back towards 34,000

​After making headway yesterday the index has stalled in the short-term. A further push above 34,000 would help to revive the bullish view and open the way to 34,500.​The recovery above the 50-day SMA this week has helped to create a higher low after the bounce from the late May low. It would require a reversal back below the 50-day SMA to negate the current bullish view.

Dow Jones Daily Price Chart

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Nasdaq 100 edges towards 15,000

​After a modest pullback, the price has recovered over the last two sessions. This puts it on track to challenge the 15,260 highs from June.

​From here the next big level would be the 15,760 highs of September 2021, and then on to 16,630 the record highs for the index.

Nasdaq 100 Daily Price Chart

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CAC 40 at one-week high

​The rebound of the past three days looks set to continue, with the next target being the 50-day SMA, and then on to trendline resistance from the April highs.

​A breakout above this and the mid-June highs would then open the way to 7500 and then the April high at 7600.​It would need a drop back below 7100 to suggest that a medium-term bearish view is developing.

CAC 40 Daily Price Chart



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