The NASDAQ index has reached a new session high of 18,182.22, increasing by nearly 400 points or 2.24%. Earlier in the year, it rose by 2.45% on January 15 and by 2.61% on March 14, marking the largest percentage gains to date.
The next target for the index is 18,235.61, which corresponds to the swing high recorded on March 7. Following that, the 38.2% retracement from the decline initiated on February 18 is at 18,338.54.
Nasdaq Momentum And Key Levels
Meanwhile, the S&P is trading at 5,761.75, up 93.87 points or 1.66%, still below its previous high of 5,766.56.
These movements underline the strong momentum pushing technology stocks higher, with the NASDAQ extending gains that have characterised its recent performance. The latest session high signals strength, following previous periods of increased volatility. With previous percentage increases of 2.45% in mid-January and 2.61% in early March, the current surge suggests renewed confidence in substantial upward movement.
Looking ahead, there are defined levels that remain relevant. The first threshold to watch is 18,235.61, matching the high observed on March 7. If that level is surpassed, attention turns to 18,338.54, which represents the 38.2% retracement from the broader decline that began on February 18. That retracement level serves as an early marker of whether the recent rise is merely short-term or part of a broader trend reversal.
Sp Performance And Resistance
Over in the S&P, gains continue but remain slightly below previous highs. The 5,766.56 peak still acts as a barrier, even as the current trading level of 5,761.75 reflects a 1.66% increase. Paying attention to whether that previous peak is exceeded is necessary, given that a failure to do so could suggest resistance remains firm.
For those involved in derivatives, managing exposure based on these levels remains key. The NASDAQ will need to maintain upward strength to confirm a breakout, while the S&P’s struggle to surpass prior highs indicates some hesitation. The coming weeks will likely bring fluctuations, requiring careful monitoring to assess whether follow-through buying materialises or if resistance levels prove difficult to overcome.
