By | September 25, 2017
Wall Street Stock Market Analysis

The S&P 500 and Dow Jones Industrial Average found its way to all-time highs this week. Wall Street Stock Market indices were trading near to the all-time highs.

Wall Street Stock Market Last Week:

In the cash market, the benchmark S&P 500 Index settled the week at 2502.22, up 0.1%. The blue-chip Dow Jones Industrial Average finished at 22349.59, up 0.4% and the tech-based NASDAQ Composite ended the week at 6427.94, down 0.3%.

Dow Jones Weekly:

Dow Jones Index opened the week at 22297.92. And then the index moved up to the weeks high at 22419.51. On my last daily analysis of Dow Short-term prediction clearly, mention Dow will be resisted at 22430.Wall Street stock market blue-chip index up for the first three days. After the Announcement of Federal Reserve, the index saw some profit booking. Then the index gradually falls to the levels of 22298. and closed the week at 22349.59, up 0.4%. Dow 30 index outperforms other two indices and closed the week mildly positive.Dow Jones weekly forecast

Dow Jones Weekly Prediction:

So far Dow 30 index does not show any major weakness, in fact, every negative news was bought into. But now the index was struggling at the Top.

Dow 30 weekly forecast

If the index Opens the week below 22670 and fails to close the week, some deep cuts will happen. 22670 is the major support for the Dow jones index. If the index fails to break 22430 on the upside expect some profit booking. As per technicals, the index may fall towards 21900 levels.

S&P 500 Weekly:

The Broad-based Benchmark S&P 500 index opened the week at 2502.51. And then the index moved up to the weeks high of 2508.85. Wall Street stock market benchmark index up for the first three days of the week. After the Announcement of Federal Reserve, the index saw some profit booking. Then the index gradually falls to the levels of 2496.54 and closed the week at 2502.22, up 0.1%. S&P 500 index forms Doji Candle on Weekly Chart and closed the week flat.

Weekly S&P 500 prediction

US SP 500 Weekly Forecast:

So far SP500 index does not show any major weakness, in fact, every negative news was bought into. But now the index was struggling at the trendline breakdown resistance.

SP 500 weekly analysis

For next week the index must break 2508 level for renewed rally otherwise the index may fall. 2495 and 2477 are major supports for the index.

Nasdaq Composite Index Weekly:

Nasdaq Composite Index opened the week at 6460.10. And then the index moved up to the weeks high at 6477.77. Wall Street stock market Tech-based Nasdaq Composite index up for the first three days of the week. After the Announcement of Federal Reserve, the index saw some profit booking. Then the index gradually falls to the levels of 6400.81. and closed the week at 6426.92, down 0.3%. Nasdaq Composite index underperforms other two indices and closed the week negative.

Weekly Nasdaq Composite Summary

Nasdaq Weekly Forecast:

So far Nasdaq index does not show any major weakness, in fact, every negative news was bought into. But now the index was struggling at the Top and a clear Divergence is visible between Nasdaq and other indices.

For next week the index must break 6478 for fresh rally otherwise the index may fall. 6400.81 is the minor support for the Nasdaq Index and the index has major gap support at 6460. If 6460 level is broken then next swing support is placed at 6434.

Nasdaq weekly forecast

Leave a Reply

Your email address will not be published. Required fields are marked *