Market Update: Dow Slips, Nasdaq 100 Holds Steady, Hang Seng Sees Surge

Market Update: Dow Slips, Nasdaq 100 Holds Steady, Hang Seng Sees Surge

Here's the latest on major indices:

Dow Jones Industrial Average (Dow) experienced a slight dip from its recent high on Friday, showing minor downside movement on Monday. However, selling pressure remained limited.

The Nasdaq 100 index maintained its record high, displaying resilience despite slight weakness observed on Monday.

Hang Seng index surged notably, driven by expectations of increased state support in China. The index rallied towards its late January peak, showcasing renewed strength.

Key Technical Levels:

- Dow: Short-term trendline support from mid-January tested, potential bearish signal if breached. Previous high from late December and early January at 37,815 remains a key level to watch.

Dow Daily Chart

- Nasdaq 100: Continues to hold above support at 17,168, with a close below potentially targeting the late December high at 16,978 and the 50-day SMA.

Nasdaq 100 Daily Chart

- Hang Seng: Approaching resistance around 16,285, with a close above 16,400 signaling further upside towards 17,000 and late December high. Conversely, a close below 16,000 may indicate renewed selling pressure, targeting the 15,000 area.

Overall, market sentiment remains mixed, with indices showing varied movements amid ongoing developments in global markets.

Hang Seng Daily Chart