{"id":437953,"date":"2026-09-11T21:40:58","date_gmt":"2026-09-11T14:40:58","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/after-testing-key-support-yesterday-the-sp-and-nasdaq-indices-are-squeezing-higher-what-next-technically-437953\/"},"modified":"2026-09-11T21:40:58","modified_gmt":"2026-09-11T14:40:58","slug":"after-testing-key-support-yesterday-the-sp-and-nasdaq-indices-are-squeezing-higher-what-next-technically","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/after-testing-key-support-yesterday-the-sp-and-nasdaq-indices-are-squeezing-higher-what-next-technically-437953\/","title":{"rendered":"After testing key support yesterday, the S&P and Nasdaq indices are squeezing higher. What next technically?"},"content":{"rendered":"
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The broader US stock indices are squeezing higher after buyers showed up against key support during yesterday\u2019s decline. The rebound is encouraging, but both the S&P and Nasdaq are now trading around their 100- and 200-hour moving averages. Those levels will determine whether buyers can take back more control.<\/p>\n

After four consecutive days of declines, the broader US stock indices are squeezing higher despite a fundamental backdrop that remains less than ideal. The latest CPI data showed inflation pressures are still not fully under control, while the University of Michigan inflation expectations added another reason for the Federal Reserve to remain cautious.<\/p>\n

The market is now pricing in around a 90% probability of Fed tightening. Normally, higher inflation expectations and an increased chance of tighter monetary policy would be headwinds for stocks. However, markets do not move in a straight line. After four days of selling\u2014and with both the S&P and Nasdaq finding willing buyers near key technical support\u2014the sellers may be losing some momentum while shorts cover and dip buyers step back in.<\/p>\n<\/p>\n

Technically, the broader US stock indices are squeezing higher after buyers showed up against key support during yesterday\u2019s decline (more below). The rebound is encouraging, but both the S&P and Nasdaq have some work to do to increase the buyers control.\u00a0<\/p>\n

For the S&P index is testing its 100-hour moving average at 7,677.32 (blue line in the chart above), with the 200-hour moving average (green line) just above at 7,699.49. Getting above both\u2014and staying above\u2014would be more bullish and shift the focus toward 7,711.48 (high price from the end of August). A break above that level would open the door for further upside toward the record high at 7,816.70.<\/p>\n

If buyers cannot get above the hourly moving averages, the rebound could begin to lose momentum. On the downside, the old ceiling between 7,577.92 and 7,617.37 has become the new floor. Buyers leaned against that area yesterday, making it the key risk-defining zone. Stay above, and buyers remain in the game. Move below, and sellers would take back more control.<\/p>\n<\/p>\n

For the Nasdaq index has moved above its 100-hour moving average at 26,279 (blue line on the chart above) and its 200-hour moving average at 26,362 (green line). That gives buyers the short-term advantage, but they must now keep the price above those levels. Holding above would target 26,676 – near highs from earlier this month and the end of August – followed by\u00a0the swing highs August 13 and 14th near 26856.24<\/p>\n

Recall that yesterday\u2019s decline stalled near the rising 100-day moving average at 25963 and swing support at 25910. That area is the key downside risk-defining level for Nasdaq buyers who are looking for more upside momentum. A break below those levels would weaken the technical picture and give sellers greater confidence.<\/p>\n

The technical message is that buyers have survived the support tests and are making a play. However, getting above a moving average is only the first step. Staying above provides the confirmation. If both indices can hold above their 100- and 200-hour moving averages, the buyers can continue to probe higher. If they cannot, the sellers will have another opportunity to push prices back toward yesterday\u2019s support floors.<\/p>\n

The bottom line is that buyers have made a stand after four straight days of declines, but the rebound still needs confirmation. Getting above and staying above the 100- and 200-hour moving averages would strengthen the bullish bias and give the squeeze room to extend. If the indices stall against those moving averages, the sellers could lean against them and make another run toward yesterday\u2019s support.<\/p>\n

In the video, I break down the key technical levels for both the S&P and Nasdaq and explain what buyers and sellers need to do next. Give it a watch for the full technical picture.<\/p>\n

This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The broader US stock indices are squeezing higher after buyers showed up against key support during yesterday\u2019s decline. The rebound is encouraging, but both the S&P and Nasdaq are now trading around…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-437953","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/437953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=437953"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/437953\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=437953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=437953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=437953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}