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Nasdaq and S&P 500 rise, with traders eyeing key moving-average levels

The Nasdaq is up about 1.1% to roughly 25,783, but buyers need to reclaim the 200-hour and 100-hour moving averages to flip the near-term bias.

Reported · Written up by our desk · Indices

U.S. stock indices edged higher, with the tech-heavy Nasdaq leading as it gained about 280 points, or 1.1%, to around 25,783, extending its rebound toward a cluster of short-term technical hurdles. According to Forexlive, the next upside targets for the Nasdaq are its 200-hour moving average near 25,918 and the 100-hour moving average near 25,974, levels that buyers would need to reclaim and hold to shift the near-term bias back in their favor.

Forexlive noted that last week showed how consequential those resistance areas are, after the Nasdaq briefly traded above the hourly moving averages but stalled near a swing area around 26,310, then fell back below both moving averages. Unless price can push through the two hourly moving averages, the rebound is still framed as a corrective bounce within a broader bearish technical setup.

The S&P 500 is in slightly better technical shape, having already climbed back above its 200-hour moving average at 7,467.03, but it is now testing the 100-hour moving average at 7,513.28. Forexlive said that level acted as a ceiling on Friday, when the index briefly moved above it before being pushed back lower, keeping traders focused on whether a sustained break can restore upside momentum.

In the same technical review, Forexlive also highlighted semiconductor names Micron and Nvidia, saying Micron briefly opened below a watched area near $818.67 but quickly reversed higher, rebounding toward the $900 region where resistance appeared near a prior 38.2% retracement.

Latest closeS&P 500 7,533.77 ▼0.5%|Nasdaq Comp. 25,881.95 ▼1.5%

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