Technical -Issues holding positive Energy: Dow, Nasdaq, and Nikkei- The major stock indices still struggling on Tuesday after Monday
Technical Analysis- Dow
On Monday, the Dow Jones index surged over the 50-day SMA, replicating a surge at late June to close to 33,650. The market’s bulls are going to wish to see more advances over 34,000 Which would set the index back track for a new effort to break out of the 34,500 range. Where impeded its upward trajectory over the past month. The result has served to quell the negative narrative for the time being.
In order for sellers to believe that an additional move to the 200-day SMA is imminent, a turn down beneath 33,600 level is required.
Technical Analysis- Nasdaq 100
On the morning of Monday, buyers seemed to stop the falls and lift the Nasdaq 100 index past 15,000 as a result. The index hasn’t had any big pullbacks in the past few weeks. Therefore, an additional rebound over 15,260 could open the door to fresh a year peaks.
With the daily MACD signal continuing to decrease, traders will desire to dip back under 15,000 mark. As it suggests that a further retreat may potentially occur.
The index appears strained and overdone. Fractal lengths seem to indicate a lack of market breadth. The spread of variety is measured by fractal proportions. Due to market players’ consistent betting in the same direction. . Which varies from 1.25 to 1.30 based on the marketplace, it shows very little variety.
Nikkei 225 Index
The index has stabilized at the 50-day SMA after falling from 34,000 area or zone. Yesterday, the index managed to finish the day over 32,600 after dipping under. Though an upper low is still not set The most significant reversal in many months may see new buying interest build.
The upswing could be subsequently revived, paving the road for 34,000 mark and beyond. This bullish outlook is invalidated with a closing beneath 32,000 level
