NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Rebounds As NVIDIA Gains 7.2%

SP500

SP500 gains ground as tech stocks rebound after the sell-off, which was triggered by worries about the impact of DeepSeek AI model. It should be noted that most market sectors have moved lower in today’s trading session. Utilities and real estate stocks were among the biggest losers as traders reacted to rising Treasury yields. Today, traders also focused on the Durable Goods Orders report for December. The report showed that Durable Goods Orders declined by 2.2% on a month-over-month basis, compared to analyst forecast of +0.6%. CB Consumer Confidence decreased from 104.7 in December to 104.1 in January, compared to analyst forecast of 105.6.

In case SP500 stays above the 6050 level, it will head towards the nearest significant resistance level, which is located in the 6090 – 6100 range.

NASDAQ

NASDAQ gains ground as traders continue to buy tech stocks after the recent sell-off. NVIDIA, which has suffered a historic sell-off in yesterday’s trading session, is up by 7.2%.

NASDAQ is moving towards the 50 MA at 21,496. If NASDAQ manages to settle above the 50 MA, it will head towards the resistance at 21,550 – 21,600.

Dow Jones

Dow Jones tested new highs as the strong rally continued. NVIDIA, Salesforce, and Apple were the best performers in the Dow Jones index today. The pullbacks in defensive stocks did not put pressure on Dow Jones.

From the technical point of view, Dow Jones needs to settle above the nearest resistance level at 44,900 – 45,000 to gain additional upside momentum in the near term. RSI is close to the overbought territory, but there is enough room to gain momentum in case the right catalysts emerge. On the support side, a move below the 44,700 level will push Dow Jones back towards the support level at 44,400 – 44,500.

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