Stock Markets hold a tight range in a cloudy picture – Dow Jones and US Index Outlook

Ben Graham · 2026-02-24T17:10:00Z

US Stock Benchmarks rebound after yesterday's rough open
Indexes maintain a tight consolidation range as uncertainty still looms on sentiment
Exploring Technical Levels for the Dow Jones, Nasdaq and S&P 500

Participants are still digesting the latest tariff developments and despite today's rebound, remain in a cloudy environment.

Geopolitics are still under pressure as long as the massive US armada remains amassed in the Middle East, and weigh on sentiment while diplomatic solutions get sought between the US and Iranian side.

This remains the largest catalyst for risks, particularly considering that the tariff picture did not change much. As a matter of fact, the economic picture got even better with duties on Chinese goods dropping from close to 50% to only 15% after the Supreme Court voted in disfavor for the IEEPA tariffs. The same stands for India and Brazil, seeing immediate rebates from the latest ruling. You can learn more on tariffs right here.

The Trump Administration will have to get creative if they want to maintain high tariff pressures on their peers.

With US Indexes not finding meaningful direction in recent weeks, dip-buying landed today as sellers could not extend beyond fresh range support, with Nasdaq once again back on top.

The ranges are tight, and the picture probably won't change until clear solutions are addressed on the geopolitical side. Let's see how it plays out for risk-appetite.

Let's look at the technical situation by diving into today’s session charts and key trading levels for the major US indices: the Dow Jones, Nasdaq, and S&P 500.

Current Session's Stock Heatmap

Stock Markets hold a tight range in a cloudy picture – Dow Jones and US Index Outlook - ExpertFX School — Current picture for the Stock Market (11:44 A.M. ET) – Source: TradingView – February 24, 2026

Rebounds in today's action are local as bulls haven't found many themes or areas to focus on.

Nvidia earnings are releasing tomorrow and will surely be a catalyst for movement ahead so expect price action to remain calm until then.

Dow Jones 2H Chart and Trading Levels

The Dow is hurting after outperforming its peers amid still broadly rangebound price action. After breaking its triangle consolidation to the downside, bears are taking the immediate advantage.

Still, as long as no session closes below the previous day lows (and the 48,640 Support lows), expect a tight range for the price action ahead.

In the immediate action however, it seems that profit taking is due with the RSI taking a turn lower after the early morning rise – The current 2H Candle is a doji, traders can look for short-term breakouts above and below to get find momentum trades.

Dow Jones technical levels for trading:

Resistance Levels

Morning highs 49,270
2H 50-MA 49,340
January ATH Resistance 49,500 to 49,700
49,900 to 50,000 Resistance (Range Highs)
Index All-Time highs 50,512

Support Levels

Past week Support 48,640 to 48,750 (Past day test)
November ATH 48,300 to 48,500 Minor Support
Key Support around 47,500
45,000 psychological level (Main Support on higher timeframe)

Nasdaq 2H Chart and Trading Levels

The Tech Heavy Index caught a breather in this morning's action but is still highly constrained by its 24,600 to 25,000 tight consolidation, which may now act resistance.

Look closely at the 2H 200-MA (25,000). A break and close above the Moving Average would help for breakout prospects. In the meantime, expect it to act as resistance.

Nasdaq technical levels of interest:

Resistance Levels

25,000 2H 200-MA
Key Pivot 25,000 to 25,250
25,400 to 25,500 Key intraday resistance
All-time high resistance zone 26,100 to 26,300

Support Levels

24,500 to 25,600 Key Support (Range Support)
February Support 24,150 to 24,200
October - November Support 23,800 to 24,000
Early 2025 ATH at 22,000 to 22,229 Support

S&P 500 2H Chart and Trading Levels

The S&P 500 is also stuck in a tight 100 point range between 6,820 and 6,920, within a broader 250 point consolidation.

Buyers are strong in today's action, hence it will be interesting to see if they manage to push for a break above 6,900. A real breakout will only occur at the 6,920 intraday resistance.

Rejecting it maintains the rangebound picture

S&P 500 technical levels of interest:

Resistance Levels

6,900 Psychological level (testing)
Current Range intraday Resistance 6,920
Previous ATH Resistance 6,945 to 6,975
Current ATH 7,020
All-time High Resistance 7,000 to 7,020 (range highs)

Support Levels

Current Range intraday Support 6,820
Mini-Support 6,830 to 6,850
6,800 Psychological Support
February lows 6,730 (Higher timeframe range lows)
6,400 Major psychological support

Safe Trades and keep a close eye on the US-Iran developments!

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