Nasdaq 100 Technical Analysis
The Nasdaq 100 rallied slightly during the trading session here on Tuesday in the early hours, but it looks like we’re just kind of hanging around trying to figure out whether or not we can break above the 25,000 level. There are a lot of questions now about AI and software and that has a little bit of a drag on the Nasdaq 100 in general, but it’s worth noting that out of the three indices as at least as I record this video, is the best performer. Maybe that can drag the rest higher.
Dow Jones 30 Technical Analysis
The Dow Jones 30 looks like it’s trying to get back above the 49,000-level bouncing from a trend line and hanging around the 50-day EMA, but we’ll just have to wait and see whether or not that actually holds true. This has been in a nice, strong uptrend for a while, but the usual panic on Monday, the trade headlines, and people just sell before they think. Really, the question is, has anything changed? Probably not. And eventually, we should get some type of bounce to take advantage of.
S&P 500 Technical Analysis
The S&P 500 is trying to rally. It’s a little bit positive, but it’s quite a bit sluggish. It’s going back and forth between positive and negative, but overall, it’s still in a consolidation range. It’ll be interesting to see if it can stay in this consolidation range with the 6,800 level being a floor and the 7,000 level above being a ceiling. I think you just have more rangebound trading waiting to happen for those who can take advantage of it.