Wall Street is taking a step back as rising corona infections can frustrate an economic recovery.
Wall Street has started to gain momentum recently. Investors were looking forward to the US opening up further and further. The American technology exchange Nasdaq even set a new price record last week.
Coronavrees
But after the strong run, a temporary breather or course reaction is not excluded. I pointed out in an earlier column that the all-time highs on Wall Street are casting their shadows.
Investors are currently concerned that rising corona infections in some US states could frustrate an economic recovery.
In some states in the US, some relaxations in public life are already being reversed. Stocks are therefore stepping back on Wall Street, although technical damage is limited at this time.
Dow Jones takes a breather
On Wall Street, the De Dow Jones falls within the confines of the upward trend. But as long as the pattern with higher bottoms is intact, the technical image looks fairly positive.
There is a lot of support around the previous summit at 24,825 points (as of April 30). Resistance is around the all-time high of February 12 at 29,564.70 points.
Nasdaq 100 shows some stabilization
Recently, the price of the Nasdaq 100 index, the smaller American technology exchange, fell below the top of early June.
Technically, this index loses some of its strength. But as long as the uptrend is intact, we’ll keep looking up.
We expect support at 9,489.58 points (bottom of June 15). The technical damage is still very limited.
–
