TSLA
Tesla
-- 355.840 NVDA
NVIDIA
-- 138.850 INTC
Intel
-- 23.600 NBIS
NEBIUS
-- 44.490 PLTR
Palantir
-- 119.160 
Technical Outlooks for S&P 500, Nasdaq 100, Semis and US Small Caps
1. The S&P 500 is Expected to Stay in a Range But Continue to Outperform on a Global Basis
The $S&P 500 Index (.SPX.US)$ is seen to remain in a state of consolidation.
The first resistance is from its 200-day average at 4496, and more importantly below retracement resistance at 4637/68. If S&P 500 rises above 4668, an upward bias might be reasserted to 4748/58, or even the 4819 high.
The first resistance is from its 200-day average at 4496, and more importantly below retracement resistance at 4637/68. If S&P 500 rises above 4668, an upward bias might be reasserted to 4748/58, or even the 4819 high.
The first support is at 4370, then 4315/14. If the S&P 500 goes below the third support at 4288/52, a fall back to 4199 or even a reset of the 4115 Q1 low will be warned.
CS analysts continue to look for the US to outperform on a global basis with the S&P 500/MSCI World ratio continuing to trend strongly higher. ( $SPDR S&P 500 ETF (SPY.US)$ )
2. Nasdaq 100 is Expected to Have Further Consolidation Beneath Its 200-Day Average
CS analysts continue to look for the US to outperform on a global basis with the S&P 500/MSCI World ratio continuing to trend strongly higher. ( $SPDR S&P 500 ETF (SPY.US)$ )
2. Nasdaq 100 is Expected to Have Further Consolidation Beneath Its 200-Day Average
$Nasdaq Composite Index (.IXIC.US)$ is now moving under the 200-day and March high at 15140/265, with further sideways ranging beneath here. Noticed that Nasdaq 100 might potentially first retest the YTD lows at 13065/12284 and 38.2% retracement of the 2020/20221 uptrend. CS analysts believe a more significant break will be confirmed, only as a weekly close is below 12884. Meanwhile, weekly MACD is trending lower as well, under the zero line. ( $Invesco QQQ Trust (QQQ.US)$ )
3. US Small Caps Consolidation Is Still Seen as Corrective Only and CS Maintain Their Core Negative Outlook
The Russell 2000 is currently at 2178, still holding below the falling 200-day average, but having a wider consolidation zone. CS analysts believe the market will find its price activity as correction, only ahead of a further decline to test the key support at 38.2% retracement of its 2020/2021 uptrend and YTD lows at 1901/1889. ( $iShares Russell 2000 ETF (IWM.US)$ )
4. Semis Look to Have Confirmed a Major Top Relative to the Broader US Market
4. Semis Look to Have Confirmed a Major Top Relative to the Broader US Market
SOXX currently stays on the 38.2% retracement of the 2020/2021 uptrend at 2985. This level would form a large top once a break occurs below here, and sellers might aim to hit 2759, then the 50% retracement at 2651. CS analysts think there's a significant phase of underperformance by the Semiconductor sector as a large top set in place to the broader market.
Source: Credit Suisse
Source: Credit Suisse
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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