Major US indices, including the Nasdaq 100, Dow Jones 30, and S&P 500, are broadly expected to sustain their strong bullish trajectory, with any short-term pullbacks presenting strategic buying opportunities rather than reasons to short. Despite some overextension, the market anticipates further upside, noting key support levels at $22,250 for the Nasdaq, 43,750 for the Dow, and 6,150 for the S&P 500, which is projected to reach 6,300. The upcoming Thursday non-farm payroll report is a notable event in what could be a compressed trading week.
The current technical posture of the three major US indices—the Nasdaq 100, Dow Jones 30, and S&P 500—is uniformly bullish, with the prevailing strategy favoring buying on pullbacks. Despite short-term overextended conditions, the market's upward momentum is expected to continue. The Nasdaq 100 is seen targeting higher levels with significant support identified around the $22,250 mark. Similarly, the Dow Jones 30 is attempting an upside breakout, with pullbacks toward support at 43,750 and 43,000 viewed as accumulation opportunities. The S&P 500 has reportedly entered an 'impulsive phase' after breaking out of a channel, with the prior all-time high of 6,150 now acting as a psychological support level for potential entries. The analysis projects a rapid move toward the 6,300 level for the S&P 500. A key near-term event is the non-farm payroll report, which is unconventionally scheduled for Thursday due to a holiday, potentially leading to a compressed and volatile trading environment.
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strongly positive
Sentiment Score
0.85
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