NASDAQ Index, SP500, Dow Jones – Stocks Lose Ground Amid Concerns Of Banking Crisis

Key Insights

• SP500 moved away from session lows despite the strong sell-off in the shares of regional banks. 
• NASDAQ settled near the 13,000 level amid rising demand for AI-related stocks. 
• Dow Jones found itself under material pressure as the majority of the index components moved lower. 

SP500

SP500 managed to rebound from session lows despite the strong sell-off in the shares of regional banks. Traders remain worried about the banking crisis and believe that more banks would fall in the upcoming months. Zions Bancorporation and Comerica, which were down by about 12%, were among the worst performers in the SP500 today.

In case SP500 settles below the support at 4070, it will head towards the next support level at 4040. A successful test of this level will push SP500 towards the support at 4010.

R1:4090 – R2:4115 – R3:4150

S1:4070 – S2:4040 – S3:4010

NASDAQ

NASDAQ settled near the 13,000 level as Advanced Micro Devices shares gained 9%. According to recent reports, Microsoft was working with AMD on its AI processors.

In case NASDAQ stays above the 13,000 level, it will head towards the resistance at 13,140. A move above 13,140 will push NASDAQ towards the next resistance at 13,250.

R1:13,140 – R2:13,250 – R3:13,400

S1:13,000 – S2:12,900 – S3:12,750

Dow Jones

Dow Jones tested new lows as the majority of the index components found themselves under pressure in today’s trading session, Intel, which was up by 3%, was the only notable gainer in the Dow Jones today. Intel gained ground amid rising demand for AI-related stocks.

If Dow Jones settles below the 33,000 level, it will head towards the support at 32,800. A successful test of the support at 32,800 will push Dow Jones towards the 32,600 level.

R1:33,175 – R2:33,300 – R3:33,500

S1:33,000 – S2:32,800 – S3:32,600

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