NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Look Soft in Premarket

Dow Jones 30 Technical Analysis

All things being equal, if the Dow Jones 30 tries to rally and then turns around and falls in pre-market trading, then this is yet another sign of volatility coming back into the market at the 50-day EMA. If we break down below the 50-day EMA, then the 45,000 level could be targeted, as it is a large, round, psychologically significant figure and an area that previously had been resistant. So, a little bit of market memory dictates that there should be buyers in that area.

S&P 500 Technical Analysis

The S&P 500 has gone back and forth during the trading session on Tuesday in the early hours as well, because again, I think a lot of people out there are concerned about the idea of the trade war picking up. This flies in the face of the backing down that we had seen the other day. And quite frankly, I think we’ve got a situation where we need to go back and forth and try to figure out what to do next. The 50 day EMA and an uptrend line both sit just below that could offer support. And then we have the 6,500 level offering a bit of a floor.

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