Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

S&P 500 and Nasdaq: Nasdaq rises to new high on Friday

by August 9, 2024
August 9, 2024
S&P 500 and Nasdaq: Nasdaq rises to new high on Friday

S&P 500 and Nasdaq: Nasdaq rises to new high on Friday

The S&P 500 index managed to climb to a new weekly high this morning at 5349.7.
On Friday, the Nasdaq climbed to a new weekly high at the 18533.5 level.

S&P 500 chart analysis

The S&P 500 index managed to climb to a new weekly high this morning at 5349.7. The index has been in a strong bullish consolidation since yesterday’s drop to 5150.0. We now have new resistance at today’s high and see a pullback below the EMA 200 moving average. The S&P 500 is now at 5305.0, and we are close to the 5300.0 support level. The EMA 50 moving average has added support in that zone. If the support weakens, a drop to a new daily low will follow.

Potential lower targets are 5275.0 and 5250.0 levels. For a bullish option, we need a positive consolidation, a return above 5340.0, and the EMA 200 moving average. Then, the S&P 500 needs to stabilize there to trigger further bullish consolidation. Potential higher targets are 5375.0 and 5400.0 levels.

 

Nasdaq chart analysis

On Friday, the Nasdaq climbed to a new weekly high at the 18533.5 level. We stayed there for a short time because the index started to lose its previous momentum. Additional pressure in that zone in the EMA 200 moving average influenced us to see the Nasdaq retreat to the 18310.0 level. The bearish momentum is strengthening, and it is possible that we will see a pullback of the index by the end of the day. Potential lower targets are the 18200.0 and 18000.0 levels.

For a bullish option, we need a positive consolidation and retracement back to 18500.0 and the EMA 200 moving average. This time we need support from the 200 EMA to continue to the bullish side. If we manage to stabilize, we will be in a good position to see the Nasdaq recover to higher levels. Potential higher targets are 18800.0 and 19000.0.

 

The post S&P 500 and Nasdaq: Nasdaq rises to new high on Friday appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
Storm Debby Brings Heavy Rainfall, Flooding to Carolinas
next post
EURAUD AND EURNZD: Euro drops to new weekly lows

You may also like

Solana and Cardano: Cardano drops to new weekly...

October 24, 2024

SafeMoon and Litecoin: SafeMoon remains under pressure

September 3, 2024

Coca-Cola Stock: New Challenges Amid Market Shifts

August 26, 2024

EURAUD and EURNZD: EURNZD moved to the bullish...

September 3, 2024

The Modern Day Forex Market

October 16, 2024

Amazon stock decline with margin after Q1 Sales...

February 7, 2025

Nasdaq 100 Future: Market Trends & Nvidia’s Impact

August 29, 2024

EURUSD and GBPUSD: The second part of the...

October 25, 2024

S&P 500 Surge: Market Shift and Economic Impact

August 9, 2024

SafeMoon and Litecoin: SafeMoon is holding above the...

September 12, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Israel carries out first strikes against Houthi targets in Yemen since Israel-Iran ceasefire

      July 6, 2025
    • Suriname parliament elects first female president

      July 6, 2025
    • Iran still wants a nuclear weapon despite ‘serious damage’ from US, Israeli strikes: expert warns

      July 6, 2025
    • Wildfires sweep through forests in drought-hit Syrian coast in major test for new government

      July 6, 2025
    • Dalai Lama marks his 90th birthday as crowds throng his home-in-exile

      July 6, 2025
    • Calls are mounting to ban Germany’s far-right AfD party – despite it being more popular than ever

      July 6, 2025

    Categories

    • Business (706)
    • Investing (661)
    • Politics (4,803)
    • World News (3,184)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 WhaleLargeCapital.com | All Rights Reserved