DAX 40, S&P 500, and Nikkei 225 Prices and Analysis
DAX steady ahead of US inflation data
After a wobble at the end of last week, the index was able to push higher on Monday, maintaining the overall uptrend and the move higher from early February. This could see further gains that take the price on to a fresh record high and the 18,000 level.
Short-term trendline support from early February continues to underpin the price, while below this comes trendline support from late October, and then the 50-day simple moving average (SMA).
DAX40 Daily Price Chart
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S&P 500 still pushing higher
As with other US indices, the S&P 50 continues to push higher, seemingly oblivious to any potentially bearish conditions such as a lack of rate cuts or weakening market breadth. Recent weakness petered out around 5050, so a move below here might indicate some further short-term downside.
Overall, however, the uptrend is intact and new record highs in the coming weeks would not be unduly surprising.
S&P500 Daily Price Chart
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Nikkei 225 edges lower on Bank of Japan speculation
The Nikkei 225 has seen a dramatic pullback over the past four sessions, due to rapidly changing expectations around the Bank of Japan’s next monetary policy move.Further declines would take the price on towards the 50-day SMA, or down towards 37,000 and the January high.
Nikkei 225 Daily Price Chart
