Nasdaq 100 and S&P 500 stay generally bullish. However, immediate patterns are negative, providing a neutral outlook.

Markets Sentiment Changes Due to Still High Infaltion.

Fed my hike one more rate hike

Nasdaq 100 Prognosis

The stock index Nasdaq 100 is in the same boat with the S&P 500. Due to declines that followed the week. the tech-laden sector closed barely altered. Nonetheless, the larger positive tendency has been bolstered by a wider band of support at the start of the year. When combined with its 14589 – 14853 supporting area, the Nasdaq may struggle to break significantly downward.

Simultaneously, falls from July provided an interim negative technical tendency. keeping emphasis on the downward. Lowering the price uncovers its June bottom at 14251 prior to the 13740 inversion region takes effect. Turning upward, on the contrary, could open the way for a return towards the July top.

S&P 500 Forecast

The S&P 500 finished approximately 0.4% up during the last five days of trading, marking the second consecutive weekly increase. However, the price index gave back a few points as the week came to a close. Resulting in general wary upward results. Nonetheless, the wider analytical prognosis continues overwhelmingly bullish.

Key Takeaways

The S&P 500 exhibits negative overtones, owing to strong opposition against its 50-D- EMA.

The Nasdaq 100’s balance is teetering, with an RSI near 50 and the MACD readings indicating probable negative traction.  While the price engages around the 50-day Exponential Moving Average

The Dow Jones index demonstrates tenacity maintaining positive inclinations over 33,590 mark. supported by chart trends with its 50-day moving average.

The S&P 500 index is exhibiting negative traction, now trading at 4324, a 0.60% fall on a four-hour period. The pivot mark has been found at 4391. The major resistance levels for the index are at 4458, 4523, then a contradicting 4350. marker. Support stages, on the opposite hand, are set around 4283, 4241, & 4176 levels.

The (RSI) stands at 49, indicating the mood is leaning towards negative. The graph shows the 50-(D-EMA) is providing resistance around $4345 point and so sustaining the current adverse bias.

The Nasdaq 100 index’s pivot lies at $15,165. The price resistance levels are $15,347, $15,675, & $16,008 levels. Whereas the support areas are $14,832, $14,646, as well as $14,313 levels

The (RSI) is now hovering near fifty, spanning the line in bull and negative emotion. At the same time, the MACD’s current reading of 53.44 is now lower than the trend line of 89.24. Showing possible negative trend in the short future. Furthermore, the current price is just above the 50-day (EMA) at $14,981, signifying a shaky positive tendency.