S&P 500, Nasdaq 100, and Dow Jones Prediction for the Upcoming Week

VOT Research Desk
Nov 5

Analytics and Recommendations

BULLISH TECHNICAL Projections –U.S INDICES

S&P 500, Nasdaq 100, and Dow Technical areas to watch in the coming week Stocks are poised to rise as long as last week’s lows remain

S&P 500, NASDAQ 100, and DOW JONES PROJECTIONS FOR THE UPCOMING WEEK

The FOMC meeting was largely to blame for the S&P 500’s steep decline last week. The downward movement has undoubtedly shaken the market’s belief in the viability of the recovery trade. But once more on Friday, just as we witnessed with CPI at record lows, the market reacted favorably to “bad” news in the form of the better-than-expected October jobs report.

This shows that even if the market seems fragile, it is actually bouncing back from news that, from the perspective of rising rates, hasn’t been good for stocks. In any case, this display of renewed buying suggests that the market has the sentimental support it needs to rise.

About half of the gains off the lows were lost during the retreat from the new high. If the market can maintain its upward momentum this week, it may rapidly approach last week’s highs at just shy of 3912. It remains to be seen if the market will be able to pass that barrier.

While not fully negative, a decline under Thursday’s low of 3698 will be cause for alarm and erase what might have been a defining moment. At the very least, a reassessment from the long side would be necessary to surpass last week’s low.

S&P 500 Chart

FORECAST TECHNICAL FOR NASDAQ 100

If there is a basis for alarm, it is due to the Nasdaq 100’s continued high activity. The NDX must start taking part in order to have the overall market moving higher once more. and shortly.

The bottom from last week at 10632, which is also a test of the channel breached in the middle of October, must be maintained. On the upper, another victory over the 10972 level is required. The first stage to generating any traction will be to break and hold this area. The next significant barrier won’t appear around until 11660, making 11176 a minor kind of resistance.

Nasdaq 100 Chart

TECHNICAL Foresee OF DOW JONES

The Dow Jones remains in the lead, but if this rise is to go on and really take off, it will probably hand the reins over to the NDX. It may start to slow down comparatively speaking, yet that doesn’t mean it won’t bounce.

Trading in the vicinity of the 200-day has been erratic. On the upside, 33071, which is near to the trend-line deviating downward from the highs, is the next significant mark to keep an eye on. Should we travel up there this coming week, this could become a concern and needs to be attentively examined. The previous week’s low, 31727, is considered a crucial level to hold onto on the downside.

Dow Jones Chart

Technical Indicators & Parameters- Weekly

S&P 500

Moving AveragesNov 04, 2022 05:31PM (GMT-4:00)

DOW JONES

Moving Averages

Weekly Moving Averages