Dow heads lower againThe index has resumed its downward move, pushing below Friday’s low and nearing the previous highs at 40,080.Further declines below this would open the way to trendline support from the June low, and then down to horizontal support at 39,587.DowJones Daily Chart
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Nasdaq 100 on the back footHopes of a bounce have faded here, though the index is holding above the 50-day simple moving average (SMA), currently 19,503. A close below the 50-day SMA marks a fresh short-term bearish development, targeting the previous highs at 18,949.Buyers will need a close back above 19,900 to suggest that a push higher is underway once more.Nasdaq 100 Daily ChartDax eases back from highsThis index succeeded in pushing to a one-week high on Tuesday, before dropping back from its highs. It remains above Monday’s lows, but a close today below the 50-day SMA would put more short-term pressure on the price.This would then test Monday’s lows around 18,150, before moving on to test the June lows at 18,000.DAX 40 Daily Chart
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