NASDAQ Index, SP500, Dow Jones Forecasts – Stocks Gain Ground On Black Friday

SP500

SP500 gained ground as traders remained bullish on Black Friday. Most market sectors moved higher in today’s trading session. Energy and basic materials stocks were among the biggest gainers in the SP500 index today. Energy stocks moved higher as natural gas rallied, supported by cold weather forecasts. Basic materials stocks enjoyed strong support as silver tested historic highs above the $55.00 level.

From the technical point of view, SP500 settled above the 6800 level and is moving towards the nearest resistance level, which is located in the 6870 – 6880 range. RSI is in the overbought territory, but there is enough room to gain additional momentum in the near term. A move above the 6880 level will push SP500 towards the 6930 level.

NASDAQ

NASDAQ moved higher as demand for tech stocks remained strong. Intel, which was up by 10.2%, was the biggest gainer in the NASDAQ index today. The stock rallied amid reports indicating that Intel may start manufacturing Apple’s chips in 2027.

NASDAQ settled above the previous resistance at 25,200 – 25,250 and is trying to settle above the 25,400 level. In case this attempt is successful, NASDAQ will head towards the next resistance, which is located in the 25,750 – 25,800 range.

Dow Jones

Dow Jones tested new highs as Amazon stock gained 1.7%. IBM and Microsoft were also among the biggest gainers in the Dow Jones index today. Worried about a potential AI bubble evaporated, and traders focus on dovish Fed policy outlook.

Currently, Dow Jones is trying to settle above the 47,600 level. In case this attempt is successful, Dow Jones will move towards the nearest resistance level, which is located in the 47,900 – 48,000 range. A move above the 48,000 level will push Dow Jones towards the 48,400 level.

For a look at all of today’s economic events, check out our economic calendar.