S&P 500 Sees Strong Resistance at 5,350; Nasdaq's 20-MA Support Under Pressure

Monday, 10 June 2024, 10:23
In this post, we delve into the market analysis of the S&P 500 facing significant resistance at 5,350 and the vulnerability of Nasdaq's 20-MA support level. Declan Fallon's insightful overview includes observations on the S&P 500, US Small Cap 2000, iShares Russell 2000 ETF, and the NASDAQ Composite. The post sheds light on crucial support and resistance levels impacting market sentiment and potential future price movements. In conclusion, the analysis points toward a critical juncture for both indices with implications for trader strategies and market stability.
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S&P 500 Sees Strong Resistance at 5,350; Nasdaq's 20-MA Support Under Pressure

Market Analysis: S&P 500 and Nasdaq Levels

As highlighted by Declan Fallon, the S&P 500 is encountering notable resistance at 5,350, while the Nasdaq is facing pressure on its 20-day moving average (20-MA) support.

Key Observations:

  • S&P 500 Resistance: The index is struggling to surpass the 5,350 level, indicating a possible stall in uptrend momentum.
  • Nasdaq Support: With the 20-MA support potentially tested, the Nasdaq's stability could be at risk in the near term.
  • Indices Covered: S&P 500, US Small Cap 2000, iShares Russell 2000 ETF, NASDAQ Composite.

This analysis by Declan Fallon provides valuable insights for traders and investors navigating the current market conditions.

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