EFG's technical analysis highlights a 'ugly Thursday' for US indices with the S&P 500 testing support and the Nasdaq showing notable weakness, while the SMI reaches all-time highs.
Key Takeaways
- 1.The S&P 500 is testing key support levels at 6'790/80 and 6'530/00 after a period of market weakness.
- 2.The Nasdaq 100 is currently the weakest major index, failing to maintain its 50-day moving average.
- 3.The Swiss Market Index (SMI) displays defensive resilience, reaching new all-time highs despite global volatility.
Table of Contents
- S&P 500
- Nasdaq 100
- Swiss Market Index
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Authors
Philipp SporkaLara Olgiati
Securities
NDXSPXSMI
Themes
Inter-market DivergenceTechnical Support Tests
Regions
North AmericaEuropeUnited StatesSwitzerland