Connect with us

Hi, what are you looking for?

Economy

S&P 500 and Nasdaq: New all-time high for the S&P 500

S&P 500 and Nasdaq: New all-time high for the S&P 500

A new all-time high for the S&P 500 index was formed on Friday at the 5524.5 level. On Friday, the Nasdaq index once again found itself above the 20000.0 level.

S&P 500 chart analysis

A new all-time high for the S&P 500 index was formed on Friday at the 5524.5 level. After that, there was saturation at that level, and a pullback to support at 5460.0 was initiated. Here, we meet the EMA200 moving average, which managed to give us enough support on Monday. Today’s picture is more bearish as the index has retreated below the EMA200 and is under pressure to fall to the weekly low.

Potential lower targets are 5440.0 and 5430.0 levels. We need a positive consolidation and a return above the 5470.0 level for a bullish option. This moves us above the EMA200 and the weekly open price. With their support, the S&P 500 will be positioned to continue on the bullish side. Potential higher targets are 5490.0 and 5500.0 levels.

Nasdaq chart analysis

On Friday, the Nasdaq index once again found itself above the 20000.0 level. This time, it was short-lived as a pullback to the EMA200 moving average at the 19700.0 level followed. The picture is more bearish this week, and yesterday, we saw a drop to 19570.0 levels. After that, this morning, the index climbed to a weekly high of 19830.0 and stopped there. We did not have the strength to move above and a pullback to the EMA200 moving average followed.

With new pressure on this level, a breakout could easily happen and the pair of Nasdaq indices to a new low. Potential lower targets are 19650.0 and 19600.0 levels. We need to maintain above the EMA200 and the weekly open price for a bullish option. With this support, we will have a chance to start a bullish consolidation. Potential higher targets are 19850.0 and 19900.0 levels.

The post S&P 500 and Nasdaq: New all-time high for the S&P 500 appeared first on FinanceBrokerage.

You May Also Like

Economy

BlockSpan ICO: Accelerating NFT Innovation with Confidence The BlockSpan ICO aims to revolutionize the NFT space. To achieve that goal, it will provide an...

Investing

ZIM Integrated (NYSE: ZIM) stock price has crashed hard after the company canceled its dividend as the shipping industry recoils. The shares plunged to...

Investing

IDS share price has suffered a big reversal in the past few days as demand for the stock drops. Shares of Royal Mail’s parent...

Stock

On this week’s edition of Stock Talk with Joe Rabil, Joe features special guest, Bruce Fraser of Power Charting. Joe and Bruce discuss swing...



Disclaimer: Frequencytraders.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 Frequencytraders.com