Nasdaq and S&P indices are settling between risk/bias defining MAs as the week comes to a close
Both the Nasdaq and S&P indices are settling with nearly identical gains of around 0.45% on the day. From a technical perspective, both are also ending the week caught between key shorter-term moving averages — below their 100-hour moving averages on the topside, but above their 200-hour moving averages on the downside.
That sets up clearly defined technical goalposts heading into next week's trading.
As long as the indices remain between those moving averages, the technical bias is more neutral, with traders waiting for the next break. A move below the 200-hour moving average would tilt the bias more to the downside and have traders looking toward lower targets. Conversely, a break above the 100-hour moving average would give buyers greater control and shift the bias more bullish.
Of the two indices, the S&P remains relatively stronger. Its August rally extended to fresh all-time highs, while the Nasdaq remains below the record high reached in early June. That divergence highlights the Nasdaq's relative underperformance more recently.
Heading into next week, the 100-hour and 200-hour moving averages will be the key technical barometers for both indices. Watch the video above for the specific levels that would shift the bias more bullish or bearish, along with the targets traders will be watching in the direction of the next break.
For today, the closing levels are showing:
- Dow Industrial Average is closing up 518.05 points or 0.98% at 53282.32
- S&P is closing up 33.17 points or 0.43% at 7674.32
- Nasdaq index is closing up 113.29 points or 0.43% at 26180.45
- Russell 2000 is up 25 443 points or 0.85% at 3017.87
- NASDAQ 100 is up 95.69 points or 0.33% at 29308.86.
For the trading week:
- Dow industrial average -0.85%
- S&P -1.43%
- Nasdaq index -2.05%
- Russell 2000 -1.64%
- Nasdaq 100 -2.45%
Bitcoin had one of its best trading weeks since March 2023 with a gain of over 23% which helped propel shares of Coinbase and Strategy . Coinbase shares are up 25.61%, while Strategy shares aoared by 28.17%.
The week's biggest losers were led by a sharp selloff in Nebius, which fell more than 21%. The AI infrastructure company came under pressure after announcing a large convertible debt offering, reversing some of its recent strong gains.
Other notable weekly decliners included:
- Nebius NV: -21.09%
- Arm: -12.89%
- Alaska Air: -12.14%
- Intel: -12.14%
- CrowdStrike: -11.47%
- Vertiv Holdings: -10.82%
- Ambarella: -10.12%
- Baidu: -10.09%
- Walmart: -10.04%
- GE Vernova: -10.01%
The weakness was particularly notable among technology and AI-related names, with Nebius, Arm, Intel, CrowdStrike, Vertiv and Ambarella all suffering double-digit declines. Walmart also stood out, dropping just over 10% after earnings, while Alaska Air was one of the week's largest non-technology decliners as oil prices moved higher.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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