US Stock Market rally: Fed’s 25 bps cut, Nvidia-Intel Deal, and strong Jobless Claims fuel gains

[Redator]

US indices are riding an intense wave of optimism following the Federal Reserve’s 25-bps rate cut, with the S&P 500, Nasdaq, and Dow Jones all pushing higher.

(As I write this piece, some profit-taking might be into play, watch the daily highs for a further push).

Nvidia (NVDA) sparked extra momentum after announcing it would acquire part of Intel’s (INTC) equity, sending Intel stock soaring over 25% in early session trading.

Tech peers like CrowdStrike (CRWD) and Synopsys (SNPS) also extend gains, underscoring a broader sector rally.

US Equity heatmap, look at the +26.30% (Intel) – September 18, 2025 – Source: TradingView

Powell’s speech painted a not-so-bleak picture of the US economy, while the dot plot still signaled 50 bps of easing potential through year-end 2025.

Combined with stronger-than-expected Jobless Claims this morning (231K vs 240K exp), bulls found another reason to drive risk assets higher.

With momentum back on their side, traders will be watching closely to see if equities can sustain this rally until the end of the week.

Data dependency was once again highlighted throughout yesterday's FOMC and will be back on the front lines for participants' watchlists. 

The FED Independence seems to have gained back some ground after yesterday's decision, but it will be key to see what FED members say looking forward.

Let's take a look at intraday charts for the S&P 500, Nasdaq and Dow Jones.

Technical outlook and levels for the 3 Main US Indices

All three indices are in a seemingly unstoppable move since the beginning of September. Let's try to look at the extent of the moves and potential levels of interest for each index as price discovery continues.

S&P 500 4H chart and levels

S&P 500 4H Chart , September 18, 2025 – Source: TradingView

The S&P 500 marked another record high at 6,669 just this morning but has started to show some slowing in momentum – bears just rejected trading below the immediate upward trendline.

The FOMC lows are still very far from current trading (6,562) and will act as a key Pivot point for momentum strength between bulls and bears.

The wick from yesterday's volatile trading actually tested the 50-Period MA, which will give it some extra emphasis looking forward.

S&P 500 Trading Levels:

Resistance Levels

• Daily highs 6,669 (new ATH)
• Higher timeframe potential resistance between 6,650 and 6,700 level (1.618 from April lows, currently testing)
• 6,700 psychological level

Support Levels

• FOMC lows 6,562 and MA 50
• 6,490 to 6,512 pivot
• 6,400 Main Support
• 6,210 to 6,235 Main Support (August NFP Lows)

Nasdaq 4H chart and levels

Nasdaq 4H Chart , September 18, 2025 – Source: TradingView

The Nasdaq was onto a heavy upward train, up 7.06% from trough to peak since beginning September right after showing hesitant signs.

Since, positive news throughout tech and ever-bigger acquisitions have propelled the tech-heavy index to new all-time highs (24,602) – however, with some Fibonacci targets being attained, profit-taking is currently going through and will have to be monitored.

For bear momentum, watch a close below 24,350 – For Bull continuation, watch a close above the ATH.

Nasdaq technical levels of interest

Resistance Levels

• Current daily highs (24,602)
• Daily Resistance (from August 20 lows) 24,550 to 24,600 (immediate)
• Potential Resistance 2 fib-Extension (from August lows) 24,800

Support Levels

• Fib-projection now Momentum pivot 24,350
• 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

Dow Jones 4H chart and levels

Dow Jones 4H Chart , September 18, 2025 – Source: TradingView

Bulls are getting back in control after yesterday's hawkish-tone led to some profit-taking in the index.

The current session is a strong one, but some sellers are currently taking some momentum back.

Buyers are once again fighting to get out of the upward trendline of the rising wedge formation and are very close to it – A level to watch in that aspect would be a daily close above the All-time high level formed at yesterday's announcement: 46,425.

Watch momentum as the session moves forward.

Levels for Dow Jones trading:

Resistance Levels

• Current All-time high and Rising wedge breakout: 46,425
• 1.618 from April correction potential resistance 46,400 to 46,830
• High of channel and 1.618% Fib of July move 47,000 to 47,160 (potential resistance)

Support Levels

• 46,000 Momentum Pivot and 50-period MA (45,807)
• 45,283 previous significant ATH
• Key Support/longer-run pivot 45,000
• Support 44,200 to 44,500
• Main Support (NFP Lows) 43,000 to 43,750

Safe Trades!

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