NASDAQ Index, S&P 500, Dow Jones Forecasts: Geopolitical Strains Shake Top Indices

Key Insights

• The S&P 500 (SPX) reveals bearish undertones, heavily influenced by a sturdy resistance from its 50-day EMA.
• NASDAQ’s equilibrium teeters, with its RSI at 50 and its MACD suggesting potential bearish momentum, even as its price flirts with the 50-day EMA.
• Dow Jones showcases resilience with bullish tendencies above 33,590, backed by chart patterns and its 50 EMA.

S&P 500

The S&P 500 (SPX) is demonstrating a bearish momentum, currently trading at 4324, marking a decrease of 0.60% on a 4-hour timeframe. Key pivot point for SPX is identified at 4391. The index confronts resistance levels at 4458, 4523, and a contradictory 4350. On the flip side, support levels are established at 4283, 4241, and 4176.

The Relative Strength Index (RSI) is clocked at 49, teetering on the edge of bearish sentiment. The chart showcases that the 50-day Exponential Moving Average (EMA) is proffering resistance at the $4345 mark, reinforcing the prevailing bearish inclination.

In conclusion, SPX maintains a bearish stance as long as it remains below the $4345 level. In the near term, it’s anticipated that SPX might move towards testing its immediate support levels.

NASDAQ

On October 13, NASDAQ exhibits a bearish trend, trading at 15,000, reflecting a decline of 1.35% on a 4-hour chart. The pivotal point for the index stands at $15,165. Resistance levels are set at $15,347, $15,675, and $16,008, while support is determined at $14,832, $14,646, and $14,313.

The Relative Strength Index (RSI) is poised at 50, straddling the boundary between bullish and bearish sentiment. Meanwhile, the MACD value of 53.44 is currently below its signal line at 89.24, hinting at potential bearish momentum in the near term. Additionally, the price is stationed just above the 50-day Exponential Moving Average (EMA) of $14,981, suggesting a fragile bullish trend.

In conclusion, the NASDAQ’s stance leans bearish as long as it remains below the $15,350 mark. In the upcoming sessions, the index could gravitate towards its immediate support or resistance levels.

Dow Jones

On October 13, the Dow Jones (DJIA) was analyzed on a 4-hour chart, revealing a trading price of 33,882. The index’s pivot point is identified at 33,658. In terms of resistance, the immediate level is 34,278, followed by 34,758 and 35,393. On the flip side, support is seen at 33,164, then 32,530 and finally 32,064.

The Relative Strength Index (RSI) stands at 53, leaning slightly towards a bullish sentiment. The MACD value of -32 is currently below its signal line at 50, indicating potential bearish momentum. Yet, the price hovers above the 50-day Exponential Moving Average (EMA) of 33,755, suggesting a short-term bullish trend.

Chart patterns present an ascending triangle, anticipating resistance around 33,935. Additionally, the 50 EMA is poised to bolster DJIA at 33,590, hinting at a potential uptrend.

In conclusion, the DJIA appears bullish as long as it remains above 33,590. In the short term, the index might challenge the immediate resistance levels.

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