FTSE 100, S&P 500 and NASDAQ 100 technical levels ahead of US NFPs
FTSE 100 likely to end week in the red
The FTSE 100 index plunged to a two-week low around its 55-day moving average at 8,238, as traders await all-important US non-farm payrolls (NFPs).
Failure at Wednesday’s 8,205 low would engage the May-July lows at 8,138 to 8,056.
Minor resistance sits around Thursday’s high at 8,285, a rise above which would put the late June to mid-July highs at 8,278 to 8,314 back on the cards.
S&P 500 await US NFPs
The S&P 500 continues to oscillate around its 55-day moving average (SMA) at 5,510 in little volatility ahead of Friday’s all important US NFPs.
Potential downside targets are the late July lows at 5,396 to 5,392, ahead of the 5,343 May peak.
Resistance is seen at the 22 and 28 August lows at 5,545 to 5,562. Were a rise above this area to unfold, the early August peak at 5,564 would be back in the picture, ahead of its July all-time high at 5,669.
NASDAQ 100 under pressure ahead of US NFPs
The NASDAQ 100's drop to a two-week low at 18,759 may accelerate post NFPs and take the index back down towards the 200-day SMA at 18,237.
Only a bullish reversal, rise and daily chart close above Thursday’s 19,108 high would have at least short-term bullish connotations and could take the NASDAQ 100 towards its 55-day SMA at 19,455 and the July-to-September downtrend line at 19,640.