Dow Experiences Significant Drop
The Dow has hit its lowest point since mid-January, marking a near-6% decline from its March highs. A further descent could challenge the 37,129 support, established in December and January, and potentially even the 36,950 peak from late 2021.
Conversely, a rally above 38,000 might suggest stabilization in the short term.
S&P 500 Maintains Position Above 5000
Despite a milder retreat, the S&P 500 continues to stay above 5000. A significant pullback would likely push the index towards the 100-day simple moving average (SMA), and potentially down to the 4806 level from 2021.
Recovery prospects could improve if it climbs above the 50-day SMA.
Nikkei 225 Reaches Month Low
The Nikkei 225 has dropped to a four-week low. Breaking below this point could expose the 37,000 mark, a January high, with the 100-day SMA lying just before.
A surge past Monday’s 39,500 high might indicate a potential recovery.
