US Indices Decline with NASDAQ100 Leading Losses
DJIA Technical Analysis
The DJIA is currently priced at 45,906.38, showing a modest decline today of 0.35%. This movement places the index below its 20-day moving average (MA20) of 46,280.55 but above the 50-day (MA50) at 45,596.01 and significantly above the 200-day (MA200) at 43,420.01. This positioning suggests a short-term bearish sentiment but a stronger bullish trend in the medium to long term.
The Bollinger Bands indicate a narrowing of volatility with the index currently trading closer to the lower band at 45,684.73, suggesting potential support or a consolidation phase. The upper Bollinger Band stands at 46,876.37, which could act as a resistance level.
The Relative Strength Index (RSI) at 47.63 is neutral, indicating no immediate overbought or oversold conditions. However, the Moving Average Convergence Divergence (MACD) at 131.74, below its signal line at 248.2, presents a bearish crossover, hinting at potential downward momentum.
The index’s current price is within a tight range from its 3-day low of 45,452.03 to a high of 46,641.74, suggesting short-term consolidation. The 52-week and year-to-date metrics show a high of 47,049.64 and a low of 36,611.78, respectively, indicating a significant upward trend over the past year.
The Average True Range (ATR) of 463.37 points to a relatively high volatility, which could mean larger price movements are possible in the near term.
Overall, while the DJIA shows a robust long-term uptrend, current indicators like the MACD and position relative to the Bollinger Bands suggest cautiousness in the short term, with potential for either consolidation or a slight pullback before resuming its longer-term upward trajectory.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 45906.38 |
| Today’s Change (%) | -0.35 |
| 20-day MA | 46280.55 |
| % from 20-day MA | -0.81 |
| 50-day MA | 45596.01 |
| % from 50-day MA | 0.68 |
| 200-day MA | 43420.01 |
| % from 200-day MA | 5.73 |
| Bollinger Upper | 46876.37 |
| % from BB Upper | -2.07 |
| Bollinger Lower | 45684.73 |
| % from BB Lower | 0.49 |
| RSI (14) | 47.63 |
| MACD | 131.74 |
| MACD Signal | 248.20 |
| 3-day High | 46641.74 |
| % from 3-day High | -1.58 |
| 3-day Low | 45452.03 |
| % from 3-day Low | 1.00 |
| 52-week High | 47049.64 |
| % from 52-week High | -2.43 |
| 52-week Low | 36611.78 |
| % from 52-week Low | 25.39 |
| YTD High | 47049.64 |
| % from YTD High | -2.43 |
| YTD Low | 36611.78 |
| % from YTD Low | 25.39 |
| ATR (14) | 463.37 |
The technical outlook for the DJIA suggests a mixed sentiment with a slight bearish inclination in the near term. Currently, the index is trading below the 20-day moving average (MA20) at 46,280.55 but above the 50-day and 200-day moving averages, indicating some support in the medium to long term. The proximity to the MA50 at 45,596.01 suggests potential support around this level.
The Bollinger Bands show the index trading closer to the lower band at 45,684.73, which could act as a near-term support level. The width of the bands, coupled with an ATR of 463.37, indicates moderate volatility.
The RSI at 47.63 is near the neutral 50 mark, suggesting neither strong bullish nor bearish momentum. However, the MACD below its signal line (131.74 vs. 248.2) indicates bearish momentum in the short term, which could lead to further declines if sustained.
Key support and resistance levels to watch are the recent 3-day low at 45,452.03 and the 3-day high at 46,641.74, respectively. A break below the support could see further downside, potentially testing the 52-week low, whereas a move above the resistance might retest the 52-week high at 47,049.64.
Overall, investors should monitor these technical indicators closely for signs of a clearer directional trend, keeping an eye on macroeconomic factors and market sentiment shifts that could influence the index’s movement.
S&P500 Technical Analysis
The S&P 500 is currently trading at 6619.86, reflecting a slight decline of 0.52% today. This places the index below its 20-day moving average (MA20) of 6669.83 but above both its 50-day (MA50) at 6543.95 and 200-day (MA200) moving averages at 6055.81. This positioning indicates a short-term bearish trend as it resides under the MA20, but maintains a bullish stance in the medium to long term, supported by its position above the MA50 and MA200.
The Bollinger Bands show the upper band at 6773.79 and the lower band at 6565.87, with the current price nearing the lower band. This proximity suggests potential support or a rebound level if the index does not break below this point. The width of the bands also indicates moderate market volatility.
The Relative Strength Index (RSI) at 49.24 is near the neutral 50 mark, suggesting neither overbought nor oversold conditions, indicating a lack of strong momentum in either direction. However, the Moving Average Convergence Divergence (MACD) at 34.0 is below its signal line at 51.73, suggesting bearish momentum as it indicates a recent bearish crossover.
The index’s proximity to its 3-day low of 6550.78 and a significant distance from the 3-day high of 6762.4 further supports the short-term bearish sentiment. Additionally, the index is currently trading closer to its 52-week and YTD highs, both at 6764.58, suggesting that it has been testing higher levels within the year but is facing resistance in breaking these peaks.
The Average True Range (ATR) at 66.45 points to a relatively stable volatility level, which is consistent with the current market dynamics observed in the Bollinger Bands and the percentage differences from the highs and lows.
In summary, the S&P 500 shows a mixed signal with short-term bearish trends due to its position below the MA20 and the bearish MACD crossover, while maintaining a bullish outlook in the longer term above the MA50 and MA200. Investors should watch for potential support at the lower Bollinger Band and any changes in the MACD and RSI for signs of momentum shifts.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 6619.86 |
| Today’s Change (%) | -0.52 |
| 20-day MA | 6669.83 |
| % from 20-day MA | -0.75 |
| 50-day MA | 6543.95 |
| % from 50-day MA | 1.16 |
| 200-day MA | 6055.81 |
| % from 200-day MA | 9.31 |
| Bollinger Upper | 6773.79 |
| % from BB Upper | -2.27 |
| Bollinger Lower | 6565.87 |
| % from BB Lower | 0.82 |
| RSI (14) | 49.24 |
| MACD | 34.00 |
| MACD Signal | 51.73 |
| 3-day High | 6762.40 |
| % from 3-day High | -2.11 |
| 3-day Low | 6550.78 |
| % from 3-day Low | 1.05 |
| 52-week High | 6764.58 |
| % from 52-week High | -2.14 |
| 52-week Low | 4835.04 |
| % from 52-week Low | 36.91 |
| YTD High | 6764.58 |
| % from YTD High | -2.14 |
| YTD Low | 4835.04 |
| % from YTD Low | 36.91 |
| ATR (14) | 66.45 |
The S&P 500’s technical outlook presents a mixed sentiment as the index currently trades at 6619.86, slightly below its 20-day moving average (MA20) of 6669.83 but above its 50-day (MA50) and 200-day (MA200) moving averages, indicating a short-term pullback within a longer-term uptrend. The index’s position between the middle and lower Bollinger Bands suggests a consolidation phase with potential downside risk if it breaches the lower band at 6565.87.
The Relative Strength Index (RSI) at 49.24 is near the neutral 50 mark, reflecting neither overbought nor oversold conditions, while the MACD below its signal line indicates bearish momentum in the short term. This is supported by the negative divergence between the MACD and its signal line.
Volatility, as measured by the Average True Range (ATR) of 66.45, remains relatively high, suggesting that significant price swings could continue. Key support and resistance levels are identified at the recent 3-day low of 6550.78 and the 3-day high of 6762.4, respectively. The proximity to the 52-week high also highlights a critical resistance zone.
Overall, the market sentiment appears cautiously optimistic, given the index’s performance above its longer-term moving averages and significant year-to-date gains. However, traders should watch for potential shifts in momentum indicated by the MACD and RSI, along with any breaches of the noted Bollinger Bands, which could signal short-term directional moves.
NASDAQ100 Technical Analysis
The NASDAQ100 index currently stands at 24,548.96, reflecting a slight decrease of 0.81% today. This movement places the index below its 20-day moving average (MA20) of 24,669.79 but still above the 50-day (MA50) and 200-day (MA200) moving averages, which are 24,042.99 and 21,796.46 respectively. This indicates a general upward trend in the medium to long term, despite recent short-term volatility.
The Bollinger Bands show the index trading near the lower band (24,174.95), suggesting a potential near-term support level. The upper band at 25,164.63 could serve as a resistance level. The width between the bands is moderate, indicating steady volatility.
The Relative Strength Index (RSI) at 51.51 suggests that the index is neither overbought nor oversold, residing in a neutral territory. However, the Moving Average Convergence Divergence (MACD) at 208.07, below its signal line at 271.28, indicates a bearish momentum as it has recently crossed below the signal line, suggesting potential further declines if the trend continues.
The index’s proximity to its 52-week and year-to-date highs (25,195.28) at a -2.57% difference, combined with a significant recovery from its lows (16,542.2), shows robust growth over the past year but also highlights recent pullbacks from peak levels.
The Average True Range (ATR) of 325.07 points to a relatively high level of daily volatility, which traders should consider when planning entry and exit points.
In summary, while the NASDAQ100 shows strong growth over the medium to long term, recent indicators such as the MACD and its position relative to the Bollinger Bands suggest caution in the short term. Investors should watch for potential support at the lower Bollinger Band and be mindful of increased volatility indicated by the ATR.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 24548.96 |
| Today’s Change (%) | -0.81 |
| 20-day MA | 24669.79 |
| % from 20-day MA | -0.49 |
| 50-day MA | 24042.99 |
| % from 50-day MA | 2.10 |
| 200-day MA | 21796.46 |
| % from 200-day MA | 12.63 |
| Bollinger Upper | 25164.63 |
| % from BB Upper | -2.45 |
| Bollinger Lower | 24174.95 |
| % from BB Lower | 1.55 |
| RSI (14) | 51.51 |
| MACD | 208.07 |
| MACD Signal | 271.28 |
| 3-day High | 25195.28 |
| % from 3-day High | -2.57 |
| 3-day Low | 24207.15 |
| % from 3-day Low | 1.41 |
| 52-week High | 25195.28 |
| % from 52-week High | -2.57 |
| 52-week Low | 16542.20 |
| % from 52-week Low | 48.40 |
| YTD High | 25195.28 |
| % from YTD High | -2.57 |
| YTD Low | 16542.20 |
| % from YTD Low | 48.40 |
| ATR (14) | 325.07 |
The NASDAQ100 is currently experiencing a slight downturn, trading below its 20-day moving average (MA20) but still well above its 50-day (MA50) and 200-day (MA200) moving averages, indicating a generally bullish trend in the medium to long term. The index’s position between the middle and lower Bollinger Bands suggests a consolidation phase with potential downside risk if the lower band is breached.
The Relative Strength Index (RSI) at 51.51 points to a neutral market sentiment, neither overbought nor oversold, while the Moving Average Convergence Divergence (MACD) below its signal line indicates a bearish momentum in the short term. This could suggest a potential pullback or consolidation in the near future.
Volatility, as measured by the Average True Range (ATR), remains relatively high, indicating that significant price movements are still possible. Current support and resistance levels are identified at the recent three-day low of 24207.15 and the three-day high of 25195.28, respectively.
Overall, the technical outlook suggests cautious optimism with a watchful eye on short-term indicators and volatility. Investors should monitor these levels closely, as a break below support or above resistance could signal new directional trends for the index.
RUSSELL2000 Technical Analysis
The Russell 2000 index is currently priced at 2453.13, marking a slight decline of 0.34% today. This movement places it just above the 20-day moving average (MA20) of 2449.02, indicating a mild bullish signal in the short term. The index is also well above its 50-day (2376.41) and 200-day (2192.1) moving averages, suggesting a strong upward trend over the medium to long term.
The Bollinger Bands show the index is trading near the middle band (2449.02), with today’s price slightly above it. The proximity to the upper Bollinger Band (2497.33) indicates that the index is nearing a potential resistance level, but it is not excessively high, which might suggest some room for upward movement before hitting overbought conditions.
The Relative Strength Index (RSI) at 54.3 does not indicate overbought or oversold conditions, suggesting a relatively stable momentum in the current market phase. However, the Moving Average Convergence Divergence (MACD) at 20.94, below its signal line at 26.92, presents a bearish crossover, which could be a signal for potential downward pressure in the near term.
The index’s current price is close to its 3-day high of 2484.35 and significantly above its 3-day low of 2393.85, showing recent bullish behavior. However, it remains below the 52-week and YTD high of 2501.92, which could act as a strong resistance level moving forward.
The Average True Range (ATR) of 37.92 reflects moderate volatility, which, combined with the current positioning within the Bollinger Bands and the MACD signal, suggests that while the market has bullish underpinnings, there may be some consolidation or pullback in the near future before any further significant upward movements. Investors should watch for any further MACD declines or an RSI approaching overbought conditions as indicators for potential strategy adjustments.
Technical Metrics
| Metric | Value |
|---|---|
| Current Price | 2453.13 |
| Today’s Change (%) | -0.34 |
| 20-day MA | 2449.02 |
| % from 20-day MA | 0.17 |
| 50-day MA | 2376.41 |
| % from 50-day MA | 3.23 |
| 200-day MA | 2192.10 |
| % from 200-day MA | 11.91 |
| Bollinger Upper | 2497.33 |
| % from BB Upper | -1.77 |
| Bollinger Lower | 2400.72 |
| % from BB Lower | 2.18 |
| RSI (14) | 54.30 |
| MACD | 20.94 |
| MACD Signal | 26.92 |
| 3-day High | 2484.35 |
| % from 3-day High | -1.26 |
| 3-day Low | 2393.85 |
| % from 3-day Low | 2.48 |
| 52-week High | 2501.92 |
| % from 52-week High | -1.95 |
| 52-week Low | 1732.99 |
| % from 52-week Low | 41.55 |
| YTD High | 2501.92 |
| % from YTD High | -1.95 |
| YTD Low | 1732.99 |
| % from YTD Low | 41.55 |
| ATR (14) | 37.92 |
The technical outlook for the Russell 2000 index suggests a moderately bullish sentiment as the index trades above its key moving averages (20-day, 50-day, and 200-day), indicating a positive trend over the short, medium, and long term. The current price of 2453.13 is slightly above the 20-day moving average, reinforcing this upward trend. The Bollinger Bands show the index nearing the upper band, suggesting some resistance near the 2497.33 level, with potential support around the 2400.72 lower band.
The Relative Strength Index (RSI) at 54.3 points to neither overbought nor oversold conditions, supporting a stable market sentiment. However, the MACD below its signal line indicates some bearish momentum in the short term, which could lead to consolidation or a slight pullback.
The Average True Range (ATR) of 37.92 reflects moderate volatility, which is typical for an index like the Russell 2000. Potential resistance is seen near the recent 52-week high of 2501.92, while support might be found around the recent low of 2393.85. Overall, the market sentiment appears cautiously optimistic, with traders likely watching for either a breakout above recent highs or a retest of lower support levels in response to shifts in market dynamics.
