Connect with us

Hi, what are you looking for?

Economy

S&P 500 and Nasdaq record new all-time high values

S&P 500 and Nasdaq record new all-time high values

  • The value of the S&P 500 climbed to a new all-time high on Friday at the 5375.7 level. 
  • The Nasdaq rose to 19116.5 on Friday night, forming a new all-time high.

S&P 500 chart analysis

The value of the S&P 500 climbed to a new all-time high on Friday at the 5375.7 level. By the time the market closed, the price had retreated to 5342.0 levels. Yesterday’s movement was in the 5330.0-5365.0 range. Today, we continue in the same range, and so far we have failed to move above the upper line. The index has initiated a pullback to 5350.0 in the last few hours, testing the EMA50 moving average here.

Looking ahead, it’s possible that we will test the daily open price before finding new support. Potential higher targets are 5370.0 and 5380.0 levels, indicating a bullish trend. However, for a bearish option, we need to see a drop below the 5340.0 level. We are gradually moving below the weekly open price to the negative side, suggesting a potential downward trend. Additional support in the 5320.0 zone is the EMA200 moving average, which could provide a strong support level.

S&P 500 chart analysis

 

Nasdaq chart analysis

The Nasdaq rose to 19116.5 on Friday night, forming a new all-time high. Yesterday and today, the index movement occurred in the 18950.0-19100.0 range. The index have resistance at the upper line and pull back to the 19000.0 level. We could also test the weekly open price before we initiate further growth to the bullish side. We are not ruling out a pullback below and are testing this week’s support at 18950.0.

Potential lower targets are 18900.0 and 18850.0 levels. Additional major support would be at the 18850.0 zone in the EMA200 moving average. We need a positive consolidation and growth above the 19100.0 level for a bullish option. We are within reach of the previous high and will have the opportunity to climb to a new one. Potential higher targets are 19150.0 and 19200.0 levels.

Nasdaq chart analysis

 

The post S&P 500 and Nasdaq record new all-time high values appeared first on FinanceBrokerage.

You May Also Like

Investing

WASHINGTON — Former President Donald Trump failed to impress everyone in a room full of top CEOs Thursday at the Business Roundtable’s quarterly meeting, multiple attendees told...

Economy

Forex Market Opening Hours in India: Key Trading Times Explained Have you ever wondered when does the Forex market open in India exactly? What...

Editor's Pick

The Biden campaign raised $28 million ahead of a star-studded fundraiser in Los Angeles headlined by actors George Clooney, Julia Roberts, Jimmy Kimmel and...

Economy

Quick Overview: OpenAI and Color Health collaborate to enhance cancer care with AI, improving screening and treatment plans. Aim to provide AI-generated screening plans...

Disclaimer: Margininsiders.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 Margininsiders.com