• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Stock

The S&P 500 and Nasdaq are driving the recovery

by July 30, 2024
written by July 30, 2024

The S&P 500 and Nasdaq are driving the recovery this morning

This week, the S&P 500 index managed to stabilize in the range of 5440.0-5490.0.
During this morning’s Asian trading session, the Nasdaq index retreated to new support at the 18900.0 level. 

S&P 500 chart analysis

This week, the S&P 500 index managed to stabilize in the range of 5440.0-5490.0. Yesterday, we had a new visit to the 5440.0 support level. After that, a bullish consolidation was initiated, and we are on our way to the upper line of this range. If this consolidation continues, the index could recover to the 5500.0 level. There, we will test the EMA 200 moving average in the hope that we will have the strength to continue above.

Looking ahead, potential higher targets for the S&P 500 index are the 5520.0 and 5540.0 levels. However, a bearish option is also plausible, which would require a downside consolidation and a further decline in the index to this week’s support level. This scenario would increase the pressure on the index to continue its retreat, with potential lower targets at 5420.0 and 5400.0 levels.

 

Nasdaq chart analysis

During this morning’s Asian trading session, the Nasdaq index retreated to new support at the 18900.0 level. After that, we saw the initiation of a bullish consolidation up to the 19100.0 level. Here, we find support from the EMA 50 moving average, and we expect to start a further recovery to the bullish side. Potential higher targets are the 19200.0 and 19300.0 levels.

For a bearish option, we need a negative consolidation and a return below the weekly open price of 19000.0. With that step, we are moving to the bearish side and will be under stronger pressure that could push us into a further retreat. By falling below the 18900.0 level, the Nasdaq would descend to a new weekly low and confirm its weakness. Potential lower targets are the 18800.0 and 18700.0 levels.

 

The post The S&P 500 and Nasdaq are driving the recovery appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Ripple and Tron: Tron is on the defensive and under pressure
next post
Stellar and Bitcoin Cash: Stellar is trying to recover

You may also like

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Kraken Rolls Out Commission-Free Stock Trading

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

    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

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

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

      May 8, 2025
    • Semtech Showcases Next-Gen LoRa® Technology at IoT Solutions World Congress 2025

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Categories

    • Economy (679)
    • Editor's Pick (348)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.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 © 2025 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick