Market News

In Focus: Dow Push to 40K, Nasdaq Slide, and Hang Seng Stable

Dow 40K Nasdaq hang seng

The Dow targets 40K, the Nasdaq drifts down, and the Hang Seng stabilizes after a pullback. Market sentiment awaits key levels.

In Wednesday’s trading session, the Dow Jones Industrial Average showed signs of a strong revival, reigniting hopes of reaching the coveted 40,000 mark again. The index found solid support at its previous record high of 39,287, set back in February, with the once-resistance level now acting as a supportive barrier. With this development, the iconic 40,000 level is back in sight, signaling potential bullish momentum in the near term.

Maintaining its short-term support from the January low, the Dow remains firm above its 50-day simple moving average (SMA), further bolstering investor confidence.

Meanwhile, the Nasdaq 100 index experienced a slight decline, albeit only modest losses recorded over the past week. Intraday lower lows added some short-term pressure on the index, yet it has refrained from testing the rising trendline from early January or the 50-day SMA. The previous high at 18,468 remains a significant obstacle before the index can chart a new record high.

In Focus: Dow Push to 40K, Nasdaq Slide, and Hang Seng Stable

In the Asian markets, the Hang Seng index stabilized its pullback from the highs earlier in March. Buyers defended the crucial 16,320 level over the past week, indicating a potential resurgence in bullish sentiment. A close above 16,800 could pave the way for a fresh upward movement toward the 200-day SMA and the 17,200 high from early March.

This prospective rally would position the Hang Seng index above trendline support from January’s low, hinting at further upside potential. However, a close below 16,300 would shift the sentiment to a more bearish outlook, suggesting that sellers might regain market control.

As market participants closely monitor these indices, the Dow’s resurgence towards 40,000, coupled with the trajectory of the Nasdaq 100 and Hang Seng, will likely shape investor sentiment in the days to come.

Stay Updated with the Latest Market News. Visit our YouTube Channel for the Latest Forex Analysis.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Related Articles

Asia-Pacific Markets Dip on Tech Earnings and Economic Data

Asian markets fell as U.S. tech earnings disappointed. The Nikkei dropped 1.27%,...

Asian Stock Diverge as Wall Street Sees Strong Rebound

Asia-Pacific markets were mixed as Wall Street rebounded. Taiwan's Taiex surged 2.4%,...

Dollar Steady; Gold and Oil Prices Face Challenges: Market Focus

Quiet start to the week with no major news. DXY steadying around...

Profit-Taking and Tech Sector Weakness Drive Down Asia-Pacific Markets

Asia-Pacific markets declined on Friday, reflecting Wall Street’s tech stock sell-off. Japan’s...

Featured educational content

EXPLORE MORE

Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

Asia-Pacific Markets Dip on Tech Earnings and Economic Data
Market News

Asia-Pacific Markets Dip on Tech Earnings and Economic Data

Asian markets fell as U.S. tech earnings disappointed. The Nikkei dropped 1.27%, Hang Seng down 0.83%, and EV stocks fell.

Asian Stock Diverge as Wall Street Sees Strong Rebound
Market News

Asian Stock Diverge as Wall Street Sees Strong Rebound

Asia-Pacific markets were mixed as Wall Street rebounded. Taiwan's Taiex surged 2.4%, while China's CSI 300 fell 1%.

Copyright © 2023 Forex Prop News. All Rights Reserved.