Title: Stock Market Update: S&P 500 Testing New Heights, Nasdaq Playing Catch-Up, and DAX Rallying to Remember
This week in financial markets was dominated by key events such as the Trump vs. Harris presidential debate, US data releases, and the European Central Bank meeting. Despite the lack of significant volatility, stock market indices trended upward, nearing historical highs.
Currently, index futures are in the green, with the S&P 500 and Nasdaq poised for a positive start to today’s trading session. Let’s delve into the technical outlook for these indexes, along with the DAX.
S&P 500: Testing New Heights
The recent dip in the S&P 500, driven by speculation about an antitrust investigation into Nvidia, seems to be behind us. Buyers have taken charge in the latest sessions, setting up the index for a potential breakout to new highs. If the bullish momentum continues, key targets are 5700 and 5800 points, with support at 5120 points.
Nasdaq: Playing Catch-Up
The Nasdaq is trailing the S&P 500 in its race to new highs. To challenge the all-time high, the index needs to overcome resistance at 18000 points. A successful breakout could see the index targeting previous highs at 18600 points, with a significant hurdle at 19000 points.
DAX: A Rally to Remember
The European Central Bank’s decision to cut interest rates by 25 basis points was largely anticipated and didn’t cause much volatility. For the DAX, hopes for gradual rate cuts are fueling a rally that recently pushed the index to new highs above 19000 points. The primary scenario is continued upward movement, with a target of 20000 points. Support at 17000 points remains the key level to watch for those looking to join the trend.
In conclusion, the markets are showing signs of positivity and potential for further growth. Investors should keep an eye on key levels and technical indicators to capitalize on the current market trends.