It seems a matter of days before both the S&P 500 and the Nasdaq 100 break all-time highs.
Fantastic figure in the Dow Jones that manages to overcome the resistance of 30,000 points for the first time in its history. After a few weeks of lateral movement we have seen the selective refused to cover the bullish gap that was left on the 9th, which is undoubtedly a show of force. The technical prospects could not be better and it seems very likely that we could end up seeing an extension of the gains to the level of 31,000 points, prices that we do not rule out that it may reach before the end of the year. The first support level is at 28,902 points. We will not see a sign of weakness as long as it remains trading above this price level.
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The Nasdaq 100 accumulates gains of 40% so far in 2020. However, the index continues to show tremendous strength in its price series. The selective technology still does not cover the downward gap left on the 4th of this month, which is undoubtedly a symptom of the current strength of purchases. The overcoming, a few days ago, of the resistance of 12,047 points invites us to think about an extension of the gains to the all-time highs that it drew at 12,439 points last September. If it manages to exceed these prices, the most normal thing is that we could end up seeing an attack at the level of 13,000 points. We will not appreciate even the slightest sign of weakness as long as it remains trading above 11,500 points, the first level of support.
The S&P 500 it is trading at all-time highs. The consolidation of the last weeks after piercing 3,588 points is about to put an end to it, so it seems more than likely that the gains will be extended to the level of 3,800 points, prices that we do not rule out that it may reach before the end year. We will not observe the slightest sign of weakness as long as it remains trading above 3,500 points