Stock Indices Daily Price Levels for this Week

Stock Indices Daily Price Levels for this Week

Where are the critical technical levels on the charts for the indices this week?

Indices Daily Levels
Indices Daily Levels Getty Images

The indices have been retracing during the first part of the week but will it continue?  The daily charts below show the critical levels where price could turn.  The red dotted lines represent both the support (below price) and resistance (above price).

Nasdaq 100 E-mini

The daily chart for the Nasdaq 100 E-mini shows that price has retraced upward to the ATR (red plus sign) and the Stochastics is indicating a potential overbought area has been reached.  Additionally, there is a resistance area immediately above the ATR (red dotted line above plus sign).  Since price is making lower lows and lower highs, trend traders would likely wait for a reversal bar to form at one of the resistance areas for a potential entry into the downtrend. 

Indices Daily Levels NasdaqMini Dow Jones

The mini Dow Jones daily chart shows that price has formed a double bottom and is retracing up to the ATR (red plus sign).  There are three potential areas of resistance above the ATR.  The Stochastis is approaching potential overbought areas but price may continue up today since the Stochastics is still climbing.  The key will be if a candlestick reversal pattern forms at or near either the ATR or one of the resistance areas.

Indices Daily Levels mini Dow JonesS&P 500 E-mini

The daily S&P 500 E-mini chart indicates lower highs and lower lows, as well as a double bottom.  The double bottom formation indicates that price will likely move upwards to find an area of potential resistance.  The first area of resistance is at the ATR followed by two resistance areas, with a double top formation at the upper most resistance area.  Additionally, the Stochastics is approaching the area of potentially being overbought.  The key will be if a candlestick reversal pattern forms at either of the resistance areas, which would indicate a potential resumption of a downward move.

Indices Daily Levels S&P 500

 

The information contained above may have been prepared by independent third parties contracted by Nadex. In addition to the disclaimer below, the material on this page is for informational and educational purposes only and should not be considered an offer or solicitation to buy or sell any financial instrument on Nadex or elsewhere. Please note, exchange fees may not be included in all examples provided. View the current Nadex fee schedule. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representations or warranties are given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk and any trading decisions that you make are solely your responsibility. Trading on Nadex involves financial risk and may not be appropriate for all investors. Past performance is not necessarily indicative of future results. Nadex contracts are based on underlying asset classes including forex, stock index futures, commodity futures, cryptocurrencies, and economic events.

Trading can be volatile and investors risk losing their investment on any given transaction. However, the design of Nadex contracts ensures investors cannot lose more than the cost to enter the transaction. Nadex is subject to U.S. regulatory oversight by the CFTC.