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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Technical Outlook for the S&P 500, Dow Jones, and Nasdaq 100

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

Paul Robinson,
What's on this page

S&P 500/Dow Jones/Nasdaq 100 Technical Highlights:

  • S&P 500 near trend-line off record high
  • Dow Jones looking at trend-line, 200-day
  • Nasdaq 100 has t-line resistance too

Q1 Forecasts are out. Check out the Trading Guides page for these and other guides to help you get off to a good start to 2019.

S&P 500 near trend-line off record high

Momentum has slowed in recent sessions, but the S&P 500 continues to demonstrate strength by refusing to decline. About 35 points higher is a trend-line off the record high, which lines up approximately with the Monday high. How price action plays out upon a test of resistance could be telling as the move off the low reaches into overbought territory. A 100 point or so pullback in rather quick fashion could be nearing once we see a swift turn lower.


With global stock market volatility high, see where our analysts see stocks headed in the Q1 Global Equities Forecast.

S&P 500 Daily Chart (t-line off record high)

S&P 500 daily chart, t-line off record high

Dow Jones looking at trend-line, 200-day

The Dow has put on an impressive rally, rising through prior resistance levels with little trouble. Ahead, though, lies the trend-line off the record high and in confluence is the widely-watched 200-day MA. This should be a formidable barrier for the market to cross. While psychological levels aren’t the most reliable forms of support and resistance, it is worth noting that confluence arrives at the 25k-mark.

Dow Daily Chart (T-line, 200-day)

Dow Daily Chart, t-line, 200-day

Nasdaq 100 has t-line resistance too

The Nasdaq 100 doesn’t have as formidable of resistance as the other two major indices, but if those turn then so will the tech-heavy index. The trend-line in play here runs over from October across peaks in the subsequent two months. The NDX is somewhat lagging behind, so it may not make it to resistance with the S&P and Dow, and if it continues to lag, from a tactical standpoint it may be the better short once the market decides to turn down.

Nasdaq 100 Daily Chart (T-line off record high)

Nasdaq 100 daily chart, t-line off record high

To learn more about U.S. indices, check out “The Difference between Dow, Nasdaq, and S&P 500: Major Facts & Opportunities.” You can join me every Wednesday at 10 GMT for live analysis on equity indices and commodities, and for the remaining roster of live events, check out the webinar calendar.

Tools for Forex & CFD Traders

Whether you are a beginning or experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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