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US indices are looking vulnerable to a move lower amid higher for longer rates view, disappointing earnings and geopolitical tensions. What is the outlook and what are the key levels to watch in the S&P 500, Nasdaq 100, and DJIA?
US equity indices will be looking for cues from Powell who is scheduled to speak later Thursday. S&P 500 and Nasdaq have retreated from key resistance. Is the rebound over?
Despite the escalation in geopolitical tensions, US indices have rebounded from key support after an apparent dovish shift by Fed officials. However, rising US real yields/cost of borrowing pose constraints on the upside.
The rally in US indices appears to be cracking – the S&P 500 and the Dow Jones Industrial Average (DJIA) have broken below key support, while the Nasdaq 100 index looks vulnerable amid a potential bearish formation.
The S&P 500 and the Nasdaq 100 index look set to test support that could define the trend for the coming weeks after the Fed stuck with the hawkish script. What is the outlook and the key levels to watch?