Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Dow Jones, S&P 500, Nasdaq 100 Technical Outlook for the Week Ahead

Dow Jones, S&P 500, Nasdaq 100 Technical Outlook for the Week Ahead

Daniel Dubrovsky, Contributing Senior Strategist


What's on this page

Dow Jones, S&P 500, Nasdaq 100, Technical Analysis – Week Ahead

  • Dow Jones upside momentum continues to fade as uptrend slows
  • S&P 500 futures trading within the boundaries of a Rising Wedge
  • Nasdaq 100 uptrend remains in play looking at key moving averages

Trade Smarter - Sign up for the DailyFX Newsletter

Receive timely and compelling market commentary from the DailyFX team

Subscribe to Newsletter

Dow Jones Technical Analysis

The Dow Jones continues to consolidate just under the all-time high set on August 16th at 35547. Momentum seems to be considerably slowing in the context of the near-term uptrend from late June, as anticipated from my last technical look at the 3 US major benchmark stock indices. The broader ascent since last year continues to remain in play, however.

A bearish Rising Wedge chart formation seems to be in play. While the outlook may be bullish within the boundaries of the wedge, a breakout to the downside risks opening the door to a material pullback. Such an outcome may place the focus on the 200-day Simple Moving Average. Otherwise, uptrend resumption would expose the 38.2% Fibonacci extension at 36357.

Dow Jones Technical Analysis

Chart Created in TradingView

S&P 500 Technical Analysis

S&P 500 futures also remain in an uptrend, though upside momentum continues to slow. This is depicted via negative RSI divergence on the daily chart below. That can at times precede a turn lower. A neutral Doji candlestick pattern was left behind on the September 3rd close. This is a sign of indecision, which can at times precede a turn lower within an uptrend.

Still, without downside follow-through, the Doji may pass without much noise. The S&P does find itself at the ceiling of a bearish Rising Wedge as well. This could precede a decline towards the floor of the wedge, where the broader uptrend could come back into play. The 100% Fibonacci extension at 4611 is fast approaching, with the 123.6% point above at 4748.

Introduction to Technical Analysis

Learn Technical Analysis

Recommended by Daniel Dubrovsky

Start Course

S&P 500 Technical Analysis

Chart Created in TradingView

Nasdaq 100 Technical Analysis

Nasdaq 100 futures recently closed at an all-time high, resuming the broader uptrend since last year’s bottom. Here, negative RSI divergence is also present, showing that upside momentum is fading. The near-term 20- and 50-day Simple Moving Averages remain pointed higher though. From here, the index could fall as much as 4.3% before touching the latter.

As such, there may be enough room for near-term correction before the broader trend resumes higher. In the event of a material turn lower, 14710 may come into play as a key support point, which was the August low. Beyond that is the July 19th low at 14445. Otherwise, uptrend resumption has the 61.8% Fibonacci extension eyed at 15731. Above that is the 78.6% level at 16080.

Nasdaq 100 Technical Analysis

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Strategist for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.