The S&P 500 is holding against a key swing-area floor near 7,577.92, but buyers still need to reclaim the 100- and 200-hour moving averages above to turn the short-term bias bullish. The Nasdaq Composite is defending a similar setup against its August low, with sellers still holding the stronger hand until resistance breaks.
S&P 500 buyers are leaning against the swing area between 7,577.92 and 7,636.33, a zone that previously acted as a ceiling and is now being tested as a floor. Staying above that range, and especially reclaiming 7,636.33, keeps buyers in the game.
However, buyers still need to reclaim the 100-hour moving average at 7,681.09 and the 200-hour moving average at 7,694.73 to take back more control. A move below 7,577.92 would weaken the technical structure and give sellers more confidence to push toward the rising 100-day moving average at 7,491.51.
Nasdaq defends its August low
The Nasdaq Composite found buyers against the August 24 low at 25,910 and the rising 100-day moving average near 25,945, a combination that forms a clearly defined support level and risk marker for buyers. Holding above those levels keeps the longer-term bullish structure intact.
Resistance now sits at the 100-hour moving average at 26,273.69 and the 200-hour moving average at 26,328.64, and buyers need to reclaim those levels to improve the short-term bias. A break below 25,910 would put sellers more firmly in control and increase the downside risk.
Support held, but control not regained
Buyers have defended important support in both indices, but they have not taken back control. Holding support is the first step toward a recovery, yet it does not confirm a bullish reversal on its own. Buyers must still reclaim the moving-average resistance above to show momentum is shifting back in their favor.
Source: Investinglive RSS Breaking News Feed
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