Economy

S&P 500 and Nasdaq: Nasdaq at new all-time high 18705.1

S&P 500 and Nasdaq: Nasdaq at new all-time high 18705.1

The S&P 500 index continues to hold above the 5300.0 level at the beginning of this week. 
A new all-time high for the Nasdaq index was formed yesterday at 18705.1. 

S&P 500 chart analysis

The S&P 500 index continues to hold above the 5300.0 level at the beginning of this week. Yesterday we saw the formation of a weekly high at the 5326.0 level. Movement in that zone was short-term, and the index retreated to 5310.0 levels. During this morning’s session until now, we continued to move in the zone of 5310.0 levels. The EMA50 moving average caught up with us, and we are now waiting for the start of the US session.

We hope for an increase in volatility in order to recognize the trend. For a bullish option, we need an impulse to the 5330.0 level. With that step, we are going to a new all-time high. Then, the bullish momentum increases, and we expect further growth on the bullish side. Potential higher targets are 5340.0 and 5350.0 levels. If we slip below the EMA50 moving average, we will also fall below the weekly open price. It will have a negative impact, and we can expect a pullback.

 

Nasdaq chart analysis

A new all-time high for the Nasdaq index was formed yesterday at 18705.1. After that, we saw a pullback to the 18650.0 level, and so far, we are moving in the zone around that level. The value of the index is quite stable and reduced volatility to a minimum. We are waiting for the US session and the increase in volatility. We need an impulse up to the 18700.0 level to continue to the bullish side.

This puts new pressure on an all-time high. The impulse above will form a new one and thus confirm the bullish trend. Potential higher targets are 18725.0 and 18750.0 levels. We need an impulse down to the 18625.0 level for a bearish option. We are here at a new daily low and on the verge of testing the EMA50 moving average. Potential lower targets are 18600.0 and 18575.0, while in the 18550.0 zone, we will be close to testing the weekly open price.

 

The post S&P 500 and Nasdaq: Nasdaq at new all-time high 18705.1 appeared first on FinanceBrokerage.

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