US Market Outlook: Dow, S&P 500, Nasdaq, EUR/USD under pressure; further fall possible
The Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite index fell on Tuesday. The Dow (46,602.98) was down 0.2 per cent. The S&P 500 (6,714.59) and the NASDAQ Composite (22,788.36) fell 0.38 per cent and 0.67 per cent, respectively. The fall on Tuesday indicates the absence of fresh buyers to take the benchmark indices higher. That increases the risk of more falls going forward. So, it is now important to remain cautious.
Dow Jones (46,602.98)
The Dow Jones spiked to a high of 46,868.48 in the initial trade but then fell sharply, giving back all the gains. Key intraday resistances are at 46,620, 46,700 and 46,730. A sustained break above 46,730 is needed to ease the downside pressure. Only then can the Dow rise towards 46,850 and 47,000 again.
Support is around 46,475. As long as the Dow Jones stays below 46,730, the chances are high for it to break below 46,475. Such a break can initially drag it down to 46,350. It will also keep the index vulnerable to breaking 46,350 and eventually see a deeper fall to 46,100.
Supports: 46,475, 46,350
Resistances: 46,620, 46,700
S&P 500 (6,714.58)
The S&P 500 index fell sharply, breaking below the 6,730-6,720 support zone mentioned yesterday. The index reached an intraday low of 6,699.96 and subsequently recovered slightly.
Strong resistance is at 6,730. An intraday rise to test this hurdle is possible today. However, the index must surpass this resistance to become bullish. Only then will a rise to 6,750 come into the picture.
The bias is negative on the charts. Therefore, we can expect the S&P 500 index to remain below 6,730. A fall to 6,700-6,690 is expected again today. A break below 6,690 will increase the downside and drag the index down to 6,675-6,670 today.
Supports: 6,690, 6,675
Resistances: 6,730, 6,750
NASDAQ Composite (22,788.36)
The NASDAQ Composite index remained stable after witnessing a sharp fall in the first couple of trading hours. The fall on Tuesday has dragged below the crucial trendline support level of 22,800.
Immediate resistance is at 22,825. Above that 22,860-22,870. Support is at 22,735. A break below it can drag the NASDAQ Composite index down to 22,650 or even 22,500 in the coming sessions.
To avoid this fall, the index must rise decisively above 22,870. But that looks less likely.
EURUSD (1.1617)
The EURUSD pair has been under pressure since the beginning of the week. It is now trading below the key support level of 1.1650. The outlook is bearish. Resistances are at 1.1640 and 1.1670.
The EURUSD pair is expected to fall to 1.1580-1.1570 in the upcoming session. A break below 1.1605 can trigger a further decline.
From the big picture, the EURUSD appears vulnerable to a downside move to 1.14 in the short term.
Supports: 1.1610, 1.1570
Resistances: 1.1640, 1.1670
Published on October 8, 2025