Technical Analysis

Technical Outlook for S&P 500, Dow Jones, and Nasdaq 100

S&P 500/Dow Jones/Nasdaq 100 Technical Highlights:

S&P 500 buying and selling at 200-day, worth ranges nonetheless increased

Dow Jones eyes worth zone round 25825/677

Nasdaq 100 may be very close to the 200-day MA

Try the forecasts for International Inventory Indices and different markets on the Buying and selling Guides web page.

S&P 500 buying and selling at 200-day, worth ranges nonetheless increased

The S&P 500 is buying and selling only a shade beneath the 200-day MA, and with it round this widely-watched long-term threshold attention-grabbing issues can occur. Yesterday’s vary was extraordinarily small, so search for that as a possible precursor to expanded volatility the subsequent couple of days.

If the 200-day doesn’t put some sort of dent within the ascent off the December low, then search for the 2800/16 zone to be a really tough one to get via. I focus on this frequently in webinars, however there are ranges (assist/resistance) after which there’s worth motion these ranges. Up to now we not seen something to counsel the rise is over or not less than prepared for the market to reverse gears. For now, must respect bullish momentum till it will get turned on its head.

With world inventory market volatility excessive, see the place our analysts see shares headed within the Q1 International Equities Forecast.

S&P 500 Each day Chart (200-day, worth ranges increased)

S&P 500 daily chart, 200-day, price levels higher

Dow Jones eyes worth zone round 25825/677

The Dow hesitated on the 200-day however has since risen just a few hundred factors above. This leaves the index between strong assist and beneath the subsequent ranges of resistance within the neighborhood of 25825/677. Whether or not the market can climb to that space with out first consolidating or retreating is but to be seen, however for now the felling is the market is simply too robust to brief and too excessive to purchase.

Dow Each day Chart (Worth zone forward)

Dow Jones daily chart, price zones ahead

Nasdaq 100 may be very close to the 200-day MA

Just like the S&P 500, the Nasdaq 100 can also be buying and selling proper close to its 200-day MA. If it might probably commerce via it received’t be far, although, earlier than worth resistance arises from 7100 as much as 7200. A pullback seems more likely to be close to however we’ll want, as mentioned with regard to the S&P, to see worth motion counsel the rise is due for a break or worse.

Nasdaq 100 Each day Chart (200-day)

Nasdaq 100 daily chart, 200-day

To be taught extra about U.S. indices, try “The Distinction between Dow, Nasdaq, and S&P 500: Main Info & Alternatives.” You’ll be able to be part of me each Wednesday at 10 GMT for stay evaluation on fairness indices and commodities, and for the remaining roster of stay occasions, try the webinar calendar.

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Whether or not you’re a starting or skilled dealer, DailyFX has a number of sources obtainable that can assist you; indicator for monitoring dealer sentiment, quarterly buying and selling forecasts, analytical and academic webinars held each day, buying and selling guides that can assist you enhance buying and selling efficiency, and one particularly for individuals who are new to foreign exchange.

—Written by Paul Robinson, Market Analyst

You’ll be able to observe Paul on Twitter at @PaulRobinsonFX

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