S&P and Nasdaq Stuck Between Key MAs Heading Into Next Week
Both indices closed Friday sandwiched between their 100- and 200-hour moving averages, setting up a binary technical setup for next week.
Friday's close left you with nothing resolved — and that's the point. The S&P and Nasdaq each tacked on about 0.45% on the day, but the real story is where they landed: below their 100-hour moving averages and above their 200-hour moving averages. That's no-man's land, technically speaking, and it means the bias is flat until one of those levels breaks.
Here's the trade setup heading into next week. A push above the 100-hour MA hands control back to buyers and opens the door to higher targets. A drop below the 200-hour MA flips the script bearish and puts lower levels in play. Those two moving averages are your goalposts. Don't overcomplicate it.
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The S&P is the stronger of the two right now. It tagged fresh all-time highs during the August rally. The Nasdaq? Still sitting below the record it hit back in early June. That gap in relative strength matters — if the market rolls over again, the Nasdaq likely leads the way down. On a weekly basis, the Nasdaq dropped 2.05% and the Nasdaq 100 shed 2.45%, both underperforming the Dow's 0.85% weekly loss.
Bitcoin was the week's standout winner, ripping more than 23% — its best weekly performance since March 2023. That lit a fire under Coinbase, up 25.61% on the week, and Strategy, which surged 28.17%. On the losing side, Nebius cratered over 21% after announcing a convertible debt deal. Arm, Intel, CrowdStrike, and Walmart all dropped more than 10% for the week, with tech and AI names taking the heaviest beating.
Next week is a binary event off these moving average levels. Know which side of the line price is on, and trade accordingly. Continue reading at Forexlive.
