NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Rallies As Arm Holdings Soars 14.8%

SP500

SP500 tests key resistance at 6090 – 6100 as rally continues. There are no important economic reports scheduled to be released today, so traders focus on earnings reports and general market sentiment. It should be noted that most market sectors are losing ground in today’s trading session. Real estate and utilities stocks are among the biggest losers in SP500 today. The rally is driven by the strong performance of tech stocks. Netflix, which is up by 10%, is the best performer in the SP500 index today. The stock rallied as traders reacted to the strong earnings report. Analysts rushed to update their price targets, providing additional support to Netflix.

In case SP500 manages to settle above the 6100 level, it will gain upside momentum and move towards the 6150 level. Traders should note that RSI is in the overbought territory, so the risks of a pullback are increasing.

NASDAQ

NASDAQ tested new highs amid strong demand for tech stocks. Arm Holdings, which is up by 14.8%, is the best performer in the NASDAQ index today. The stock rallied as traders reacted to the announcement of an AI investment initiative from the Trump administration.

From the technical point of view, NASDAQ settled above the previous resistance at 21,550 – 21,600 and is trying to settle above the 21,900 level. In case this attempt is successful, it will head towards the next resistance, which is located in the 22,050 – 22,100 range.

Dow Jones

Dow Jones gained some ground amid broad rally in the equity markets. However, the index did not manage to gain strong momentum due to pullbacks in defensive sectors.

Currently, Dow Jones is trying to settle above the resistance at 44,000 – 44,100. In case this attempt is successful, it will move towards the next resistance level, which is located in the 44,400 – 44,500 range.

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