Connect with us

Hi, what are you looking for?

Stock

S&P 500 and Nasdaq: S&P 500 bounces back above 5300.0

Vital differences between the NASDAQ 100 VS the S&P 500

S&P 500 and Nasdaq: S&P 500 bounces back above 5300.0

  • The S&P 500 continues its successful recovery from last week’s fall to the 5256.2 level.
  • The Nasdaq index is on the verge of erasing the previous decline at the 18552.7 level.

S&P 500 chart analysis

The S&P 500 continues its successful recovery from last week’s fall to the 5256.2 level. On Monday, the index stabilised above 5300.0 and the EMA50 moving average. During this morning’s Asian trading session, the value of the index briefly retreated to 5310.0, where it gained new support. A positive consolidation has started and the S&P 500 moves up to the 5321.0 level, forming a new weekly high there.

We expect to see further positive consolidation and growth of the index to a new high. Potential higher targets are 5330.0 and 5340.0 levels. We need a negative consolidation and pullback down to the 5300.0 level, the weekly open price for a bearish option. By falling below this line, we move to the negative side, which could drag the index to a new low. Potential lower targets are the 5290.0 and 5280.0 levels.

S&P 500 chart analysis

Nasdaq chart analysis

The Nasdaq index is on the verge of erasing the previous decline at the 18552.7 level. The pullback happened abruptly on Thursday from the 18948.9 level. We are now at 18900.0 and expect to see a continuation of the previous high. During this morning’s Asian session, the index briefly retreated to 18825.0, where it successfully gained support and started the current bullish consolidation.

Potential higher targets are 18950.0 and 18975.0 levels. The Nasdaq would have to go back down to the 18800.0 level for a bearish option. There we test the weekly open price and the EMA50 moving average. An impulse below would break those support levels and thus signal weakness in the index. After that, we are expected to see a further pullback to a new low. Potential lower targets are 18775.0 and 18750.0 levels.

Nasdaq

The post S&P 500 and Nasdaq: S&P 500 bounces back above 5300.0 appeared first on FinanceBrokerage.

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com