Nasdaq lead US indices in undecisive moves post NVDA earnings – Dow Jones, S&P 500 and Nasdaq overview

[Redator]

US Indices are rising but in an unassertive fashion, and the same has happened throughout the whole week.

The dovish interpretation from last Friday's Powell speech definitely helped to sustain bullish momentum, with the S&P 500 timidly breaking new highs in yesterday's session and the Dow Jones breaking through its previous record (Current all-time highs at 45,757).

However, it seems that Markets are awaiting for the most influential piece of data, releasing on the 5th of September – The infamous Non-Farm Payrolls report.

This week's undecisive trading is typical of a last week of August due to many participants being off their screens and not much key data to keep the key players from doing so.

Yesterday post-close Nvidia release sent mixed signs, but it seems that technicals still corroborate potential upside – you can check our latest analysis on the stock right here.

NVDA is still down around 0.90% on the session, with what seems to be profit-taking flows – Some dip-buying is currently ongoing

Some key technical patterns are still coming into play, which should influence trading ahead of tomorrow's Core PCE release.

Read More: USDCAD falls despite a US GDP data beat – Technical Outlook

A broad look on US Equities

US Equities Heatmap, August 28, 2025 – Source: Finviz

US Indices technical analysis – Dow Jones, S&P 500 and Nasdaq 4H charts

Dow Jones- Double top coming in play?

Dow Jones 4H Chart, August 28, 2025 – Source: TradingView

Our previous analysis of US Indices had mentioned a break-retest technical pattern which tends to bring continued upside and more sustainability to trends.

However, the landmark Dow is down about 0.20% in today's session after marking an intermediate double top.

Inflows are going towards other sectors, but the picture is very mixed, leaving the most-logical reason behind the selling being normal profit-taking – The price action is still holding an upward channel, with the previous selling happening at its upper bound.

Indeed, a lack of activity may prevent pushing for further highs, particularly ahead of next week's NFP release – Watch for reactions at the 4H 50-period MA at 45,170

Levels of interest for Dow Jones Trading:

Resistance Levels

• Current All-time high 45,757
• ATH Resistance Zone 45,700 (+/- 150 pts)
• 1.618 Fibonacci-Extension for potential ATH resistance 46,260

Support Levels

• Previous ATH resistance zone, now pivot 45,000 (+/- 150 points)
• 4H 50-period MA 45,175
• 44,400 to 44,500 Main Support

S&P 500 – new all-time highs, but lacking conviction

S&P 500 4H Chart, August 28, 2025 – Source: TradingView

New all-time highs just got reached for the S&P 500, with the record standing at 6,496 (CFD, actual index ATH at 6,495)

However, the past week of price action is full of wicks, pointing to some lack of conviction around the highs.

Nonetheless, the Index is holding very close to its highs, therefore price action is still far from bearish.

The S&P 500 is still out of its higher timeframe upward channel, but bears are still inactive for now, leaving the current trend into play.

Price action may stay undecisive until next week!

Levels of interest for S&P 500 Trading:

Resistance Levels

• session highs 6,496 All-time highs
• All-time high resistance zone 6,470 to 6,500
• 6,520 to 6,530 Potential ATH resistance (from Fibonacci extension)

Support Levels

• End-July Top now Pivot 6,420 to 6,430
• 6,400 psychological Support
• pre-Powell mini support 6,350
• 6,210 to 6,235 Main Support (NFP Lows)

Nasdaq – bringing back some bullish flows

Nasdaq 4H Chart, August 28, 2025 – Source: TradingView

After unconvincing price action throughout the whole week, Nvidia earnings seem to have brough some buying flows to the Tech-focused index.

Look at reactions as the current buying is stepping into the pre-NFP highs resistance zone, levels just below.

Levels to watch for Nasdaq trading:

Resistance Levels

• Current All-time Highs 23,986
• 23,500 Support turned resistance
• 23,732 NFP highs acting as immediate resistance

Support Levels

• Weekly lows 23,300
• 23,000 Key Support
• 22,700 support at NFP lows
• Early 2025 ATH at 22,229

Safe Trades!

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