• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy S&P 500 and Nasdaq: New Targets and Support Levels
Economy

S&P 500 and Nasdaq: New Targets and Support Levels

by October 18, 2024
by October 18, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

S&P 500 and Nasdaq: New Targets and Support Levels

During this morning’s Asian trading session, the S&P 500 finds support at the 5840.0 level
The Nasdaq gained new support this morning at the 20200.0 level

S&P 500 chart analysis

During this morning’s Asian trading session, the S&P 500 finds support at the 5840.0 level. Additional support in that zone is the EMA 50 moving average, which influenced the index to remain stable. In the EU session, we climbed up to $5860.0, and we expect a continuation of the bullish side in the US session. On Thursday, October 17, the S&P 500 created a new all-time high at 5882.5. We managed to break above the previous high from Monday, October 14.

All signs indicate that we can expect a continuation of the bullish consolidation. Potential higher targets are 5880.0 and 5900.0 levels. If the current bullish momentum decreases, the S&P 500 could turn to the bearish side. After that, we will see a pullback below the 5840.0 level and the EMA 50 moving average. Since we lost the previous support, we must continue the retreat and look for a new one at lower levels. Potential lower targets are 5820.0 and 5800.0 levels.

 

Nasdaq chart analysis

The Nasdaq gained new support this morning at the 20200.0 level. With the support of the EMA 200 moving average, we quickly moved back above the weekly open level to the positive side and continued to the daily high at 20315.0. The index at 20250.0 forms a higher low and thus confirms determination for further recovery to the bullish side. Potential higher targets are 20350.0 and 20400.0 levels.

If there is a reduction in the bullish momentum again, the Nasdaq will have to start a new pullback. We are again forced to test the weekly open level and the support of the EMA 200 moving average. This time, we need a break of the index below to a new daily low as a confirmation of bearish momentum. Potential lower targets are 20150.0 and 20100.0 levels. This week’s Nasdaq low was at 20042.0.

 

The post S&P 500 and Nasdaq: New Targets and Support Levels appeared first on FinanceBrokerage.

You Might Also Like
  • Jan 6 rioters, abortion, gun rights: A look ahead at landmark cases SCOTUS will hear in 2024
  • Impeaching Biden over border crisis is Republicans’ ‘only tool,’ Andrew McCarthy says
  • GOP presidential candidate Nikki Haley pledges to cut billions in foreign aid to China, other US adversaries
  • WATCH: Karine Jean-Pierre rants against Biden impeachment inquiry, snaps at reporter in testy moment
Share
0
FacebookTwitterPinterestWhatsapp

previous post
PDO Stock Price: Forecast and Dividend Insights
next post
Gold and Silver: Gold continues to climb to higher levels

You may also like

House Speaker Kevin McCarthy officially ends proxy voting

January 19, 2023

Wisconsin Assembly set to clear pharmacist-prescribed birth control

June 22, 2023

Judge dismisses Trump’s $100 million lawsuit against The New York...

May 4, 2023

Biden is not considering firing Secretary Austin after secret hospital...

January 9, 2024

Trump calls George Clooney a ‘rat’ for turning on Biden

July 11, 2024

Trump to travel to New York City Monday before Tuesday...

April 1, 2023

Some Iranians celebrate ‘Butcher of Tehran’ Raisi’s death in the...

May 21, 2024

GOP warns insurance companies on ESG policies: ‘Americans are paying...

May 16, 2023

Seattle official will not resign after yelling at Marine veteran...

May 23, 2023

Biden agency ‘likely’ violated free speech by working with Big...

October 5, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,531)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,531)

    Disclaimer: RoundTableThoughts.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 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    US troops abroad ‘at risk’ due...

    February 5, 2024

    Karine Jean-Pierre dodges question on Lori...

    March 2, 2023

    Disastrous polls prove Democrats need a...

    January 2, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here