S&P500 and NASDAQ: new highs after a small correction?

S&P500 and NASDAQ: new highs after a small correction?

On Tuesday, S&P500 (US500) has tested a very important psychological milestone of 4200.  Despite the correction, analysts still expect the bullish trend to remain stable.  The index is driven by the overall risk-on sentiment and positive earnings reports by the biggest American companies. If buyers cross the 4200 level, the index will surge towards the next potential resistance of 4225. On the downside, the index is limited by the 4170 level (50-period MA).  If it’s broken, the next support will be located at 4150.

US500H4.png

As for NASDAQ (US100), it has retested the all-time high of 14,060 today.  Since the start of the US trading session, the index has been correcting towards the support of 13,890 (trend line border). If bulls take over the market once again, the resistance of 14,060 will be crossed and the next obstacle will be placed at 14,100.

US100H4.png

It’s very important to follow the earnings reports these days to catch the additional movements of the major American indices. Check the schedule below:

Tuesday: Stabrucks, 3M

Wednesday: Google, Facebook, PayPal, Qualcomm, Ford

Thursday: Microsoft, Amazon, Twitter

Check the calendar for more details.

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  1. First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
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