Nasdaq 100, Dow and Dax continue to rally

Nasdaq 100 looks for more gains

​The index finished higher for the week after returning above 18,000 and holding above the 200-day SMA. For now, buyers remain in control, having lifted the index from the low. Further gains target 19,000 and then the late July high at 19,500. A close back below 18,000 could signal that a new lower leg has begun.

Nasdaq100 daily chart

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Dow recovers losses

An optimistic view prevails here as well, after the index rebounded from the week’s lows around 38,500.

A close above the 50-day SMA would help solidify the bullish outlook and pave the way to 40,000 and beyond. Sellers will need a close below 39,000 to suggest a retest of recent lows.

Dow Jones Daily chart

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Dax pushes higher

After touching almost 17,000 last week, the index has recovered well, moving back above the 200-day SMA.

It has recovered the April low and now looks set to test 18,000. A close higher helps support a view that the index will retest the July highs. Sellers will want to see a return below 17,500 to put it back below the 200-day SMA.

DAX Daily chart