Both the S&P and NASDAQ have swung back into positive territory after starting the session under pressure. At their lows, the NASDAQ was down 141.84 points and the S&P was off 18.94 points, but steady buying has pushed both indices higher. The S&P is now up roughly 26 points (0.38%), while the NASDAQ has gained 51 points (0.22%). Despite yesterday’s pullback—which ended a five-day win streak—both indices have risen in six of the past seven trading days, and today’s rebound keeps buyers firmly in control.
Technically, the move back above the 100-hour moving average in each index has been an important bullish signal, providing a platform for buyers to lean against. As long as prices hold above that short-term support, traders will continue to look toward the all-time highs set at the end of October.
For the S&P, that record sits at 6920.34, with current trade near 6856.34.
The NASDAQ’s all-time high is 24,019.99, compared with a current level around 23,471.
In the video above, I walk through the key technical drivers, the upside targets, and the risk levels that define the path forward.
