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S&P 500 Hits New Historical High at 5140.8 Level

S&P 500 Hits New Historical High at 5140.8 Level

Friday evening brought a new historical high for the S&P500 at the 5140.8 level. Last Thursday and Friday brought a strong bullish consolidation of the Nasdaq index.

S&P500 index chart analysis

Friday evening brought a new historical high for the S&P500 at the 5140.8 level. During the Asian trading session, the movement was stable and took place in the 5130-5140 range. We are waiting for the beginning of the US session when we could expect greater volatility. We are close to the previous high, and with a small impulse, we could easily jump over it and form a new one. Potential higher targets are 5150.0 and 5160.0 levels.

If we were to slip below 5130.0, it could initiate bearish impulse levels and the initiation of a bearish option. With that, we would form a new daily low and start bearish momentum. Potential lower targets are 5120.0 and 5110.0 levels. The EMA200 moving average is in the zone around 5070.0 levels.

Nasdaq index chart analysis

Last Thursday and Friday brought a strong bullish consolidation of the Nasdaq index. Strong impulses pushed the index above the 18320.0 level. During today’s Asian trading session we climbed to a new historical high at 18339.9 level. After that, we make a minor pullback to support at the 18275.0 level. We are now waiting for the US session, which could show us the future trend of the Nasdaq index.

The new bullish impulse leads us to a new high, and the potential higher targets are the 18350.0 and 18360.0 levels. Nasdaq needs to drop below the 18275.0 level for a bearish option. With this, we form a daily low and confirm the bearish momentum. If it continues, the index could slide in search of a new support level. Potential lower targets are 18250.0 and 18200.0 levels.

The post S&P 500 Hits New Historical High at 5140.8 Level appeared first on FinanceBrokerage.

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