Home / News / Broader US stock indices stall the fall ahead of targeted support levels
Broader US stock indices stall the fall ahead of targeted support levels
<p class="PDq2pG_selectionAnchorContainer">The S&P and Nasdaq indices are both finding buyers against key support, but the rebounds still have work to do before the technical bias turns more bullish.</p><p>For the S&P index, buyers are leaning against the swing area between 7577.92 and 7636.33. This area previously acted as a ceiling and is now being tested as a floor, making it the key risk-defining area. Stay above—and especially move back above 7636.33—and the buyers remain in the game. However, they still need to reclaim the 100-hour moving average at 7681.09 and the 200-hour moving average at 7694.73 to take back more control. A move below the 7577.92 would weaken the technical structure and give sellers more confidence to potentially make a run toward the rising 100 day MA at 7491.51. </p><p></p><p>For the Nasdaq Composite, buyers came in against the August 24 low at 25,910 and the rising 100-day moving average near 25,945. That combination creates a clearly defined support area and risk level for buyers. Holding above those levels keeps the longer-term bullish structure intact. However, resistance is now found at the 100-hour moving average at 26,273.69 and the 200-hour moving average at 26,328.64. Buyers need to reclaim those moving averages to improve the short-term bias. A break below 25,910 would put sellers more firmly in control and increase the downside risk.</p><p></p><p>The dominant message is that buyers have defended important support, but they have not take
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<p class="PDq2pG_selectionAnchorContainer">The S&P and Nasdaq indices are both finding buyers against key support, but the rebounds still have work to do before the technical bias turns more bullish.</p><p>For the S&P index, buyers are leaning against the swing area between 7577.92 and 7636.33. This area previously acted as a ceiling and is now being tested as a floor, making it the key risk-defining area. Stay above—and especially move back above 7636.33—and the buyers remain in the game. However, they still need to reclaim the 100-hour moving average at 7681.09 and the 200-hour moving average at 7694.73 to take back more control. A move below the 7577.92 would weaken the technical structure and give sellers more confidence to potentially make a run toward the rising 100 day MA at 7491.51. </p><p></p><p>For the Nasdaq Composite, buyers came in against the August 24 low at 25,910 and the rising 100-day moving average near 25,945. That combination creates a clearly defined support area and risk level for buyers. Holding above those levels keeps the longer-term bullish structure intact. However, resistance is now found at the 100-hour moving average at 26,273.69 and the 200-hour moving average at 26,328.64. Buyers need to reclaim those moving averages to improve the short-term bias. A break below 25,910 would put sellers more firmly in control and increase the downside risk.</p><p></p><p>The dominant message is that buyers have defended important support, but they have not take
