US indices surge with Nasdaq and S&P 500 leading before the FOMC

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US Indices haven't stopped bullying through new highs on strong impulses, with Equity bears surely in awe.

Markets which tend to slow down in consolidation before such key rate decisions haven't had the chance to stop a minute: Since last week's positive surprises in US inflation releases, American stocks and particularly tech-equities are on a historic run.

NA and DAX indices performance since September 1st – Source: TradingView

September seasonals are traditionally not the most favorable of such rallies, but seasonals seem to be a thing of the past these days – Who can stop this train?

For now, certainly not short-sellers, war headlines, tariffs or anything of that sort.

Participants are backing off slightly on the post-PPI and CPI 10% pricing of a 50 bps cut, however, an ever-ecstatic mood and a lower US Dollar is bolstering index performance. The Nasdaq is up just below 5% just this month. Stellar !

The daily picture for equities is still red for some sectors but tech is more than okay, particularly Tesla (Elon Musk just bought $1B of Tesla today)

US Equity heatmap, September 15, 2025 – Source: TradingView

Explore levels and charts for all three indices with today's huge rally in the S&P 500 and Nasdaq and the Dow Jones, laggard of the session.

Read More:

• The US Dollar falls which takes the EUR to August highs – EURUSD and DXY outlooks
• Guide to the FOMC statement and September SEP: Key takeaways and what to watch

US Indices intraday technical analysis

S&P 500 2H Chart

S&P 500 2H Chart, September 15, 2025 – Source: TradingView

Participants did react to the potential resistance level mentioned in our previous Market analysis but was simply used during sideways consolidation that allowed an overbought RSI to decrease slightly to more sustainable levels.

There won't be much technically to stop the Index in its rally until the 6,650 to 6,700 level (wide margin) as Markets will then attain some essential Fibonacci-induced targets.

Watch for a potentially hawkish FED for any reversal but barring that, the momentum is very strong.

Resistance Levels

• Daily highs 6,617 (new ATH)
• Higher timeframe potential resistance around the 6,700 level (1.618 from April lows)

Support Levels

• 6,490 to 6,512 pivot
• 6,400 Main Support
• 6,210 to 6,235 Main Support (August NFP Lows)

Dow Jones 2H Chart

Dow Jones 2H Chart, September 15, 2025 – Source: TradingView

The Dow Jones has still retracted a bit today but is evolving in what resembles a break-retest pattern of the previous all-time high record (45,764) which comes at a similar level as the 2H MA 50.

Bullish reactions will be expected between current levels until 45,500 (MA 200) as bears could take the upper hand below on profit-taking flows.

Prices are still evolving within a rising wedge, which is one of the technical keys to monitor for US Markets.

Levels for Dow Jones trading

Resistance Levels

• Current All-time high 46,145
• ATH Resistance Zone around 46,000 (+/- 150 pts)
• 1.618 Fibonacci-Extension for potential ATH resistance 46,400 to 46,850

Support Levels

• Previous ATH 45,764 acting as support (MA 50 in confluence)
• MA 200 and upward trendline of rising wedge (45,500)
• Key Support/longer-run pivot 45,000
• Support 44,200 to 44,500
• Main Support (NFP Lows) 43,000 to 43,750

Nasdaq 2H Chart

Nasdaq 2H Chart, September 15, 2025 – Source: TradingView

The Nasdaq had been moving a bit hesitantly in the past few weeks of action but when it decides to go, it goes far and fast.

Marking a new all-time high again today (same as the S&P 500), the tech-heavy index is bullying everything on its way. Reactions on Wednesday will be very interesting.

Nasdaq technical levels of interest

Resistance Levels

• Current daily highs (24,279)
• Potential Resitance 1 fib-Extension (from August 20 lows) 24,350
• Potential Resitance 2 fib-Extension (from August 20 lows) 24,550

Support Levels

• Previous ATH zone turning pivot (23,950 to 24,020)
• 23,500 support
• 23,000 Key Support
• Early 2025 ATH at 22,000 to 22,229 Support

Safe trades and a successful FOMC week!

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