S&P 500 Sees Strong Resistance at 5,350; Nasdaq's 20-MA Support Under Pressure
Monday, 10 June 2024, 10:23
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.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.