- Friday brought us a new ATH for the S&P 500 at 4975.8.
- The value of the Nasdaq index jumped to the level of 17680.8 on Friday, forming a new all-time high.
S&P 500 chart analysis
Friday brought us a new ATH for the S&P 500 at 4975.8. This week is witnessing a slight bearish picture and the index fell below the 4950.0 level. Yesterday, we had one downward push to the 4916.6 support level. We were able to stay above it and start climbing to 4956.0 levels. We stop there and encounter resistance during the Asian trading session, pushing us higher to the 4940.0 level.
Currently, there are no conclusive signs of a deeper decline, as we await the opening of the American session. A break above 4960.0 would increase the bullish momentum for further recovery. This would give us an opportunity to attack the highest level recorded last week, and a new attempt may lead to a breakout above that level and the formation of a new one. Possible higher targets are 4980.0 and 4990.00 levels.
Nasdaq 100 chart analysis
The value of the Nasdaq index jumped to the level of 17680.8 on Friday, forming a new all-time high. Monday brought us mild volatility and a decline to the 17450.0 level. After the support it received, the index rose above the 17600.0 level. During today's Asian trading session, we managed to hold above this level, leading to a retest of last week's high.
Today we see new resistance at that level, and the index returns to the 17600.0 level. New pressure may break this support level and look for the next level at lower levels. Possible lower targets are 17550.0 and 17500.00 levels. Nasdaq will have additional support at the EMA200 in the area around 17450.0 levels
